This is the limbo period between the expectations and reality of a new crop going into the ground. Prices gyrate in a narrow range, awaiting something more definitive than planting “intentions.” The bears see a planting pace off to a quick start, the bulls see ground that in many places is dry, and in some parts, it is too cool. So we go sideways, with each side hanging on to their perceived narrative.  The changes in commodity values in recent weeks have included the following:

All three wheats finished higher for a second straight week. Corn was also higher for a second week. Soybeans and live cattle were down for a second week. Lean hogs gained a fraction this week after losing value in the three previous weeks. ...