Market Analysis
Corn and soybeans saw some early short covering as they are oversold but are getting drug down by wheat and fund selling says Kent Beadle, Paradigm Futures.
Vince Boddicker, Farmers Trading Company, says with corn rated at 75% good to excellent the market sees the crop getting off to a good start, so the mentality has changed to “rain makes grain.”
Grain and livestock futures ended mostly in the red on Tuesday. Vince Boddicker, Farmers Trading Company, says the mentality in grains as turned to “rain makes grain”, especially with the favorable crop ratings.
Grains turn mixed after early pressure. Jon Scheve with Superior Feed Ingredients says the markets are searching for direction, but weather is still the main focus. He has marketing advice.
Alan Brugler, Brugler Marketing, says it was a risk off day in grain markets which were removing risk premium. They also did technical damage.
Alan Brugler, Brugler Marketing, says it was a risk off day in grain and cotton markets removing weather premium. The lack of money flow into grains, the stock market and crude oil was also evident to start June.
Cattle fall after lower weekly closes and softer cash trade, holding chart support. Hogs struggle on fund selling. Soybeans pull corn lower and wheat off its highs. Brad Kooima, Kooima Kooima Varilek, has more.
Grain futures ended lower for the week removing weather premium. Naomi Blohm, Total Farm Marketing, says, “It feels like it’s doing a warning shot just to remind us that the crop is getting planted.”
Technically, Jerry Gulke, president of the Gulke Group, says weather rallies can be fleeting and this week there were sell signals in the grain market.
Grain and cattle futures end mostly lower on Friday and were lower for the week. Naomi Blohm, Total Farm Marketing, says weather, crop ratings and what the funds want to do next will determine future market direction.
Grains recover after three down days. Is this recovery all technical and will it last? Darin Newsom, Sr. Market Analyst for Barchart, says wheat has the best chance with concerns about drought in HRW areas.
Cattle and grains end lower so was it end of month profit taking or a trend change? Scott Varilek, Kooima Kooima Varilek says cattle will recover but grains need a new weather story.
Cattle were lower for a second day with China news kicking in algorithm selling, while hogs bounce. Grains lower removing weather premium but Scott Varilek, Kooima Kooima Varilek, says it’s a possible top.
Vince Boddicker, Farmers Trading Company says corn and wheat see end of month profit taking in need of a new weather story, soybeans try to hold slight gains. Cattle trying to recover, hogs search for a low.
Rich Nelson with Allendale, Inc. says several factors created a risk off day in grain and livestock including end of the month profit taking.
Grain and livestock futures all end lower in a risk off day according to Rich Nelson of Allendale. What triggered it and is this topping action in the grain markets?
Live cattle mixed early digesting last week’s record cash but will eventually make new contract highs says Brad Kooima of Kooima Kooima Varilek. Hogs try to bounce. Corn and soybeans struggle with planting progress.
Wheat makes new highs for the move and then ends well off its highs. DuWayne Bosse, Bolt Marketing, says the trend is still higher but the bull will need to be fed with more bullish news to keep going.
Wheat ends higher put off highs, so is the market getting tired? DuWayne Bosse, Bolt Marketing, says the global crop concerns may be priced in. Meanwhile soybeans fall and pull corn down.
Wheat makes new highs for the move on Russia crop concerns, while corn and soybeans struggle. Cattle are mostly higher after the COF, with hogs making new lows. Randy Martinson, Martinson Ag, has more.
Garrett Toay, AgTrader Talk, says the seasonal highs for corn usually come in the third week of June. However, with funds nearly flat the big determinant of future direction will be weather and the June Acreage Report.
Gulke says, all of the winter predictions for the grain and oilseed market haven’t come true. “So suddenly we’ve kind of turned upside down to where conventional wisdom was almost 98% wrong.,” he says.
Grains end mostly higher Friday with pre-holiday trade but also holding weather premium. Cattle traded mostly lower ahead of the COF Report despite some record cash in the North. Garrett Toay, AgTraderTalk, has more.
Cattle futures fade the record high cash trade on caution ahead of the Cattle on Feed Report. Hogs still searching for a low. Grains chop pre-holiday eyeing weather. Scott Varilek, Kooima Kooima Varilek, has more.
Allison Thompson, The Money Farm, says, “On the weather side we are looking for a pretty wet weekend and brings up question about whether farmers will switch corn acres to beans or take prevent plant.”
Corn and wheat end higher still trading weather concerns in the U.S. and globally, but corn exports were also strong. Allison Thompson, The Money Farm, says, both markets are up challenging chart resistance.
Grains continue to rally on weather concerns, but what is going on with cash basis levels and when should farmers sell? Nick Tsiolis, Farmers Keeper, shares insight.
Soybeans rally on talk of China export sales, corn follows. Wheat makes near term highs then farmer selling hits. Cattle also make for the move highs with higher cash news. Mark Schultz, Northstar Commodity, has more.
Grains end mixed on Wednesday. Mark Schults, Northstar Commodity says soybeans led the rally and pulled corn along, while wheat hit near term highs and then faded on farmer selling.
Wheat makes near term highs before farmer selling hits, corn & soybeans try to hold gains on planting delays, talk of China soybean buys. Cattle make near term highs. Kent Beadle, Paradigm Futures, has more.