Rough Rice Commodity Markets, Prices & Futures
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Latest News From Rough Rice
Don Roose, U.S. Commodities, says grain markets are trading weather and have had some chart breakouts. That could keep funds buying but only if weather continues to be bullish.
Corn, soybean and soybean meal futures posted higher weekly closes, but it’s hard to predict how far the grain markets could rally, says Jerry Gulke. “Now it becomes more of an art than a science,” he adds.
Grains ended higher on Friday with chart breakouts on weather and crop concerns, plus fund short covering. Cattle mixed, hogs. lower.
Whenever the scores are released, they could show another hefty increase for food and nutrition spending, paid in part by the way her bill alters the Title I safety net programs.
Grain markets have been rallying this week on weather and crop concerns and it’s not just wheat. Eric Snodgrass, Senior Science Fellow, Nutrien Ag Solutions, talks about Northern and Southern Hemisphere weather.
Grains continue higher with weather concerns in the U.S. and SA, a lower dollar and funds are covering shorts with the stronger technical action says Darin Newsom with Barchart. Will the funds eventually buy grains?
John Payne, Advance Trading, says soybeans and soybean meal led the grain rally Thursday on short covering and adding weather premium with heavy rains and flooding in southern Brazil and parts of Argentina.
The Buenos Aires Grain Exchange cut its Argentine corn crop estimate another 3 MMT.
John Payne, Advance Trading says grains rally on fund short covering and weather, with a higher day in cattle and lower close in cotton....again.
Members of Teamsters Canada have authorized strike actions at the nation’s two major railroads, Canadian National Railway and Canadian Pacific Kansas City.