Wednesday, February 21, 2018 11:40AM CST
The Tax Cuts and Jobs Act significantly changed how agribusiness looks at depreciation. Bonus deprecation was one of the few items in the new law that applies retroactively. Under the new law, annual depreciation limits on passenger autos also increase significantly.
March corn was unchanged, March soybeans were 2 cents lower, and July Kansas City (HRW) wheat was 1 cent lower.
The strong market selloff seen in cattle trade midweek is expected to create additional weakness through the complex early Thursday morning. Although there is likely to be an attempt to cover short positions during initial trade due to the increased market volatility.