Grain futures higher, wheat leading with arctic cold temps blanketing the plains for the next week.

In the wheat belt, there will be 20-30 degrees below average temperatures for the next 8 days which will raise concerns over potential winterkill risk with the lack of snow cover. The trump administration did not announce reciprocal tariffs yesterday but did say they will monitor and asses on a case by case basis if they will be needed or not going forward. This was positive for the grain trade overnight.

The US warns Russia on potential new sanctions if it refuses to make a good peace deal with Ukraine. Trump is trying to facilitate in a truce agreement between the countries to put an end to the war soon through negotiation tactics.

South American weather is favorable for them to finish up their soybean harvest so the can get onto corn planting in a timely manner. Southern Brazil and northern Argentina will see much needed moisture in the next 10 days, this area had been hit with drought for almost two months now as the crops head into their reproductive phase.

Cattle futures closed on a high note yesterday with today looking for a steady to firmer trade. There is an immense amount of volatility in the cattle trade as of late. Cash cattle in the north was $320-$322 which was $6 lower for the week and southern sales were at $202 down $4.

Carcas weights have been on the decline on a seasonal basis but still at record levels. Peak weights in Jan were at 962 lbs while they currently are weighing in at an average of 952 lbs. these weights are 43 lbs heavier than a year ago. This frigid cold spell that is blanketing the Midwest and plains will pull cattle weights down a bit adding support to cash cattle prices.