The Final Bell

5-28-21 *Is the high in for the grains? *Weather will continue to be an issue *Update on the Brazil 2nd crop *Dry drought pattern *Grain Basis *Livestock pressure

5-27-21 • Nice turn around in the grain markets • No real weather issues…so what does that mean for summer? • Volatility continues in the trade • No cancelations from China • Volume wasn’t as good as it was on Wednesday • Heading into a holiday weekend • Grain basis • Weekly exports numbers • Don’t change your thought process with these markets • What do we need for BPA in corn & beans?

5-26-21 • Eb & flow continues as we try to find value • China buying/looking rumors • Trading technical, need to look at long term fundamentals • Anticipated size of the U.S. crop • Grain purchases for China with ASF

5-25-21 • Just remember markets can go higher & lower than people think • Could we price in a big acreage number? • Weather market, but as we see it can rain in drought areas • What are the charts telling us? • Trading bearish-how long will it last? • Is there a chance to ride this out? • China tone with commodity prices • Secondary run in the markets? • Could we have seen the highs for the market...

5-24-21 Big break in the markets · Normal process of marketing’s in May for the bears · Tight supplies-does that worry you? · Ethanol margins improve slightly · End of the bull market has been over exaggerated · China purchases last week-what does the actions say? · Don’t rush to the exit to soon · After May Gov’t is moving away from buying dairy · Good time for livestock guys to get some good fee...

5-20-21 *What are the items that the market is the most concerned about? *Is the market still concerned about Brazilian corn? *Who will supply the corn that Brazil is short? *Are our export inspections doing okay? *How are exports sales doing? *Why is China buying so much corn? *Is the corn demand for ethanol holding up okay? *What do you think corn basis levels will do going forward? *Why has the...

5-19-21 *Everything is selling but the proteins *What is going on in the fundamentals? *Wheat tour is underway in KS *China buying are they done? *Brazil crop getting smaller *Feeder cattle & corn prices *Cow herd liquidation

5-18-21 *Soybeans testing the $16 level *China backs off soymeal bean ration *Winter Wheat Tour *China & corn purchases *Box beef & Carlot pork purchases

5-17-21 *Wheat trade & the weather *Corn exports with China & Mexico *Should we get an ethanol boost? *KS Railway & Canada purchase *Cattle weights coming down *ASF & China

5-14-21 *Soybeans are seeing some replants in the ECB *I-40 Bridge update *WASDE report jumped to the back seat *Struggle continued into a Friday for livestock

5-13-21 • The writing on the wall with how Monday corn traded • Selling the ag off is underway • WASDE didn’t have anything in there we weren’t looking for • Outside market trade • We did see corn & cattle rally off the day’s lows • Extreme difficult market to be a part of. • I-40 bridge closure

5-12-21 • WASDE Report • Feed wheat use • Weather • Livestock reacts to WASDE report

5-11-21 *WASDE Report out tomorrow *Uptrend in the markets *Planning for where we are going *Grain markets reaction from livestock

5-7-21 • Corn & beans end the week in positive • Beans pulled the corn & wheat along • Is wheat cheap? • Brazil’s corn crop-update on crop

5-5-21 • Rain is spotty • New corn numbers for Brazil • Wheat market continues to rise • Inflation the big factor • Difference dynamics with cattle & hogs • June Hog futures higher than June Cattle futures on Tuesday • Labor & Saturday kills • World is a better place now than a year ago

5-4-21 Struggle is real in the livestock trade How much more can this industry take? Will Mother's Day be factored into the beef movement? Coming out of the pandemic Commodity super cycle Turn around Tuesday Could we see a grain shortage come U.S. harvest time? Wheat market thoughts

5-3-21 What are the items that the market is the most concerned about? Why is the Safriha Corn crop such a concern this year? How does the US weather look overall? Are our export inspections doing okay? How are exports sales doing? Is the corn demand for ethanol holding up okay? What do you think basis levels will do going forward?

4-30-21 • Obscene volatility • We need to think factors including committing those bushels • What do late payments mean to the market trade (not from farmers) • Accumulators in the grain trade • Spread risks going into this growing season • Short a future call in your account-what next?

4-29-21 • Brazilian Real • Time for a grain market pause • Outperforming moves in rice & Mpls wheat • Weather, planting • South America is priced in • Big crop pressure in the U.S. • Cattle suffer from high feed prices • Hogs are topping • Dairy & feed prices

4-28-21 • Fundamentals haven’t changed over the past couple of days for grains • What are the fundamentals at the moment? • New limits start next week • Weather in Brazil heart of pollination is coming up

4-27-21 • Moves in the grains-what should we be doing • Planting underway • First notice day on Friday • Brazil is under some big struggles its not good for corn • Struggles in the cattle market

4-26-21 Cattle saw a huge kill last week. Market struggle was softening cash market Cattle & cost of gain Are we going to see a sell off before things get better Hogs came roaring back Cash hogs strong Is the hog market toppy? Window is closing on the South American corn crop Our growing corn belt weather...rain and lack thereof Funds have a long position

4-23-21 • Soybeans turned themselves around headed into the weekend • Wheat-dry, cold, tight supplies all taking its toll • Brazil dropping its ban on beans, meal & corn • Demand for food is pent up • Demand for cattle & hogs

4-22-21 • Limit up grain trade • How is the second crop going for South America…pressure on Brazil • Frozen wheat in KS • Ethanol/Bio-diesel both here in the U.S. & Brazil • Struggle continues on the livestock side of the trade

4-21-21 • Update on South America corn crop • Colder temps this past week • Red hot oil market • Alternative feed guidelines with China • How much is corn hitting the cattle market? • How much wheat is being feed as a feed source?