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In this weekly recap, Marlin Bohling and Eric Relph discuss the market trends and events of the week. They start by highlighting the USDA report and the discrepancy between its estimates and the CONAB numbers for Brazilian soybean production. The conversation then moves on to the lack of support in the market, with new contract lows in corn and weakness in the wheat market. They also discuss the distrust in USDA numbers and the lack of transparency in federal agencies. Finishing with an outlook for the live cattle and hog markets.

Takeaways
-The USDA report and CONAB numbers showed a discrepancy in estimates for Brazilian soybean production, leading to skepticism and distrust in USDA numbers.
-The lack of support in the market, with new contract lows in corn and weakness in the wheat market, indicates a challenging environment for farmers.
-There is a growing concern about open heifers and cows during the breeding season, which may be nutrition-related and could impact the cattle market.
-The hog market has been strong, but there are uncertainties about its future performance.

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