There's now a 60% chance La Niña will develop between June and August and an 85% chance it's in effect by November 2024 to January 2025, according to NOAA.
Scott Varilek, Kooima Kooima Varilek says live cattle see pressure ahead of cash news and COF but have absorbed a lot of bearish news. Hogs consolidate, with short covering in grains putting in war premium.
An International Harvester 856 diesel tractor, a Peterbilt 389 Glider kit day cab semi and a collection of John Deere 55 series tractors are just a few pieces of equipment that have caught Machinery Pete's eye lately.
Soybeans make near term lows pulling down corn, wheat bounces on crop concerns. Cattle firm ahead of the COF, while outside markets continue to watch geopolitical developments. Arlan Suderman, with StoneX, has more.