AgDay

Grains rallied into the long weekend on the back of risk premium around potential weather and trade headlines, both of which fell flat, sending prices right back to where we started last week’s trade.

Brad Kooima, Kooima Kooima Varilek, says cattle futuresare showing resilience early Monday due to better than expected cash trade. However, grains are seeing heavy selling pressure.

Jerry Gulke, president of the Gulke Group, says the grain markets turned this week, not on trade news, but rather on less talked about factors.

Weekly overview of ag commodity market news and price action compiled by Austin Schroeder with Brugler Marketing. Not intended as trading advice. Actions taken are responsibility of the reader.

This week’s grain market action was anything but quiet (unlike Acreage & Stocks). From shifting momentum in September corn to capital flow signals flashing across the soy complex, we break down the price structure, trends, and relative strength driving the week’s biggest moves. Using top-down analysis and money flow metrics, we identify where conviction is building — and where it’s breaking. Whether you’re trading spreads, managing risk, or just trying to stay ahead of the combine, this is the map you need.

Mark Schultz, Northstar Commodity, says corn and soybeans saw follow through technical buying and short covering heading into a three day holiday but were also trading hopes for a positive trade announcement on China from President Trump.

In addition to major tax provisions, the bill enhances the current safety net, providing $66 billion in new spending for farm programs.

While USDA’s crop condition ratings don’t translate to a specific yield, with strong conditions, analysts say it’s possible the U.S. will see a national record corn yield this year. Current market chatter is a national corn yield anywhere from 185 bu. to 200 bu. per acre.

Take a break from the used equipment auction shop talk and go on a fun journey with our hosts on this special midyear edition of the Moving Iron podcast.

Scott Varilek of Kooima Kooima Varilek says cattle futures are trading higher building on Wednesday’s big reversal which was initially triggered by trade news but then better than expected cash trade added to the rally. Grains are also higher on hopes of an announced deal with China.