Market Analysis
Rich Nelson with Allendale says the corn and wheat markets saw profit taking but also latched on to Black Sea headlines indicating Russian President Putin was open to a peace deal with Ukraine.
Mike Minor with Professional Ag Marketing says grains are seeing profit taking but a catalyst creating some selling is news accounts that Russian President Putin may be considering a peace deal with Ukraine.
Matt Bennett with AgMarket.Net says grains rallied most of August and got a bit overbought so the correction was overdue and healthy. Plus, bull markets need to be continually fed.
Mark Knight with Farmers Keeper Financial says the grain markets are way overbought and due for a correction.
Allison Thompson with The Money Farm says the perfect storm has converged to bring massive fund buying into the grain markets and push prices to multi-year highs.
Jamie Gieseke with Paradigm Futures says the charts are bullish for grain markets, especially for corn.
Brian Grete with Commstock Investments says grain markets posted higher closes for the month with funds pouring massive amounts of money into the complex. Are they done buying yet is the question in a new month.
Analysts Dan Basse and Chip Nellinger say $6 corn is looking likely this year. While there’s always risk as the funds post such a long position, there is another factor that could push prices past $6, and that’s tied to El Niño.
Cattle futures were trying to bounce early Monday as both live and feeder cattle are oversold after lower weekly closes says Brad Kooima with Kooima Kooima Varilek. However, he was cautious about it holding.
Don Roose with U.S. Commodities says the grains have seen rotating leadership but the bull market is currently being led by wheat and will needs continue Black Sea headlines to keep moving higher.
Scott Varilek with Kooima Kooima Varilek says after a bounce on Thursday many producers were asking if a bottom was starting to be forged but the negative stories won’t die down.
Shawn Hackett with Hackett Financial Advisors says he sees higher prices ahead for the grain markets.
Darin Newsom, senior market analyst with Barchart, says it is not unexpected to see a little profit taking moving into the end of the month. However, he thinks any breaks will be bought by the trend following funds.
Jim McCormick with AgMarket.Net says the market saw massive fund buying and short covering adding war or geopolitical premium.
DuWayne Bosse of Bolt Marketing says funds are buying in corn on technical signals and concerns about a tightening U.S. and global balance sheet for corn.
Darren Frye with Water Street Solutions says the funds bought corn on the break with crop ratings down 3% and made a new contract high close. Can futures keep moving to $6 or where do they project to?
Randy Martinson with Martinson Ag says the corn market saw new contract highs on Monday. Tuesday morning it looked like funds were back in buying the break.
Alan Brugler of A&N Economics says corn made new contract highs Sunday night but if it was trading the 173.2 bu. per acre corn yield from Pro Farmer prices would be much higher.
Brad Kooima of Kooima Kooima Varilek says the placements were 11% below last year and a bullish surprise for him and the trade. However, the President’s beef plan it stifling the recovery.
Lane Akre, economist with Pro Farmer, says the corn made new highs on Friday but may have to go higher with their big yield cut of 7.5 bu. from USDA’s August estimate.
Scott Varilek with Kooima Kooima Varilek says the Truth Social post from President Trump that 300,000 MT of beef imports will enter the U.S. duty free over the next 90 days to lower beef prices tanked the cattle market early Friday.
Naomi Blohm of Total Farm Marketing says corn, soybeans and wheat had strong technical closes on Friday and for the week. What will it take to keep going?
Joe Kooima with Kooima Kooima Varilek says the cattle were down early Friday pricing in the plant closure news, but this time seems different regarding the long term implications for the market.
Sam Hudson of Corn Belt Marketing says the grain rally on Wednesday was impressive but ran out of steam.
Kyle Bumsted of Allendale says corn was taking a breather after 20 cent report gains on Wednesday. Cattle and hogs were down hard.
Dave Chatterton of Strategic Farm Marketing says USDA provided some positive data for the corn market in the WASDE and could be headed for $5.
Rich Nelson with Allendale says grains saw selling pressure as there are plenty of questions regarding USDA’s numbers especially after last August’s yield and acreage shock.