Monday, August 21, 2017 8:58PM CDT
Argentina has banned U.S. pork products for 25 years but now has agreed to reopen the market after Vice President Mike Pence met with Argentina's president. The announcement conservatively estimated the market at roughly $10 million, but U.S. pork exports to South America are soaring right now.
December corn was 3 cents lower, November soybeans were 5 cents lower, and December Chicago (SRW) wheat was 2 cents lower.
Look for live and feeder futures to resume trading Monday at least moderately lower, pressured by further long liquidation and struggling carcass value. Lean hog contracts are also likely to begin on the defensive in the face of growing supplies and softening pork demand.