The Final Bell

6-30-21 *Markets react to USDA reports *Freeze in Brazil *US Weather *Turf covered in cattle *Holiday shortened kills

6-29-21 • Potential outcomes from acreage and stalks • Corn & bean spreads • June report weighs heavier than other reports • Ethanol fears with refinery waivers ease • Cattle seeing some consolidation going into this report tomorrow? • Holiday trade & processing

6-28-21 • Cattle influenced • Some fund rolls • Long term are we going to be, okay? • A lot of females coming to town • Heading into a holiday weekend? • China looking for hogs? • Trade dominated by July forecast • Markets & extreme temps in the PNW • A variety of reports due out this week • Weekly crop progress report

6-24-21 • Weather mixed feast or famine • What is beneficial out of the storms & what is not • How does CME look at all of this? • China is buying again • Is it hard to be long the market when it’s raining? • USDA reports next week • Buying spring wheat, winter wheat, Chicago • Sing song on the grain vs. feeder cattle market • Buying cattle • Struggle drop in hogs

6-22-21 *How would you describe the current situation in the corn and soybean markets? *With corn and soybean conditions going lower, why is the market going lower? *How do the current crop corn and soybean crop conditions look? *What do the top soil and subsoil moisture levels look like? *Where are we in steps of a weather market? *How is the corn demand for ethanol looking? *What are your though...

6-21-21 • Beans are up on the trade • End of the month acreage numbers as we head into the second ½ of yr • Ethanol margins-short term demand is solid • RINS in the 1.6 billion worth of credits • Hogs are bouncing, but futures haven’t caught up yet • Does higher feeders set the tone for this week?

6-18-21 Rollercoaster of a week in markets Latest Drought Monitor Weather Trading the new limits Lack of info from the wheat harvest Current on numbers weights are starting to drop Foreign demand for grains & proteins

6-17-21 • Limit down corn • Crazy tough market day • How will the cards all fall back into place? • China limiting • Fed statements • Risk off environment • Biden Administrations & biofuels • Brazil & the corn crop • Nebraska to be a grain hot spot? • HOT weather & cattle • Better for cash cattle • Boxes will move lower • Hogs have limit down trade

6-15-21 Weather and market fundamentals

6-14-21 • Hot temps • Tough day for the grains today • Will continue to be a weather market • Brazil reneging on corn? • How do you be disciplined with these markets • Warmer temps & winter wheat • Cattle markets & the grain trade

6-11-21 • Rain that moved into Iowa • RFS from the Biden Administration-caught market off guard • Day after WASDE report • Winter Wheat movement • Spring wheat will be the leader • Cattle saw a big moves • Feeders reacting to lower corn

6-10-21 • USDA Report • Big move in old crop beans • Crush numbers…are the beans there • Imports for beans- 20 million have yet to be imported • Aggressive reaction to the report hit the beans • Marketing in a weather-related market • Is the hog market going to hit highs of 2014?

6-8-21 *Weather will continue to be a focus *Grains close lower 1/2 of the trading range *Shipping issues in S.A. *Drought & cattle

6-7-21 • Warm temps-crop development • Strong ethanol margins, RIN value hot • Strong global demand • Brazil to China…huge exports of beans out of S.A. • Demand market with a weather component • Winter wheat took the lead overnight • Employment at the packer • Demand for beef for huge • Hogs have been on fire • Packers making, boxed beef & what producer is getting • Long term in the cattle industr...

6-4-21 • JBS Cyberattack • Cash market continues to limp along • Oversupply of cattle in Kansas & Texas • Demand is nothing short of outstanding • Customer wants to buy • Hogs are running on fumes • Blend of technical • Influence on the negative-building in the weather • Basis softening on the corn • Could see a run at the old highs for corn • Soybeans getting a head & shoulder feel

6-3-21 *How does the condition of the corn crop compare to past years? *Is the market concerned with the current weather conditions? *What are the main factors impacting this market at this time? *How does a weather market develop? *What stage in the weather market are we currently? *How is export demand holding up? *Is ethanol demand for corn doing okay?

6-1-21 • Planting progress on the beans • Freeze & weather issues • USDA crop ratings • Export inspections for corn remain strong, beans as well • Ethanol margins remain strong • JBS & cyber attack

5-31-21 On this special Memorial Day program PJ Conradt with Tredas looks at the markets going into the summer months.

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