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The ideological controversy over glyphosate in Mexico is over for today.
Grain and livestock futures try to extend gains for a third day. Kent Beadle, Paradigm Futures, says there are several fundamentals driving it but technically markets have also seen strong action.
Cattle futures had a strong start to the week following Friday’s Cattle on Feed report. Monday’s trade took prices back to significant resistance levels, will they hold?
Grain markets were sharply higher in the first trading day of the week, will that strength continue in today’s trade or will resistance hold?
Corn planting is now 2% ahead of the five year national average, while soybeans are currently 4% ahead, according to the April 22, 2024, USDA Crop Progress report.
Jim McCormick, AgMarket.Net, says the wheat market is adding risk premium and if it keeps going corn and soybeans could follow producing a sustained fund short covering rally.