Vince Boddicker with Farmers Trading Company says soybeans continue to see Brazil weather concerns and technical buying. When soybeans put in an early harvest low they tend to rally around 80 cents and have cleared that mark already. However, if Brazil stays dry the market could continue to price that in.

Scott Varilek, Kooima Kooima Varilek, says cattle futures reversed with $2 higher cash in Southern feedlot areas. Grain markets ended lower as fund short covering was overrun by an increase in farmer selling.

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Matt Bennett, AgMarket.Net, says the market has been resilient as the funds are exiting shorts and taking profits end of quarter.

Grains started out mostly lower Wednesday but Darin Newsom with Barchart says they continue to see buying on the dips as funds are covering shorts and taking profits.

Kevin Duling, KD Investors, says it wasn’t the best close for the grains as the markets ran up into some chart resistance and are starting to look a little tired.

Randy Martinson, Martinson Ag, says funds are covering shorts and there is new technical buying as well as the markets have cleared some key chart resistance.

Allison Thompson with The Money Farm says a combination of factors drove soybeans higher including South American weather and China economic news. Corn and wheat followed. Cattle futures also made new highs for the move pushed by cash.

Brad Kooima of Kooima Kooima Varilek says cattle are hitting new highs for the move after a chart breakout and pushed by stronger cash last week. Grains are all strong early with soybeans making near term highs on the convergence of several fundamentals.

Jim McCormick, AgMarket.Net, says corn and soybeans ended lower on Friday on farmer selling of both old and new crop inventory. However, both corn and wheat had lower weekly closes which could indicate a trend change.