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Randy Martinson, Martinson Ag, says grain markets are seeing pressure from harvest, weather and renewed fund selling. All the markets are flirting with key support levels on the charts.
The latest AEM numbers suggest concerns about falling farmer demand for new machines were not overblown.
Grain markets were lower to start the week on continued pressure from last week’s WASDE report. The weakness has broken chart support which may put the Bears back in the driver’s seat.
Beef production is now forecast to increase marginally from year-ago and rise another 4.1% next year.
Kent Beadle of Paradigm Futures says grains saw follow through selling pressure after a lower day Friday. The complex also saw spillover from the risk off day in outside markets including the higher dollar and lower crude oil.
Native Americans seek to regain control over their food systems