Market Analysis
Grains start higher led by wheat on global crop concerns, but the markets can’t get above chart resistance. Cattle higher following a surge in wholesale beef. Randy Martinson, Martinson Ag, has details.
Grains faded early day strength. Dave Chatterton, Strategic Farm Marketing, says the bulls need to continue to be fed by a bigger weather story as the funds have covered a large portion of their short position.
Grain markets fade early gains, but what triggered the selloff? Dave Chatterton, Strategic Farm Marketing, says the bulls need to continually be fed for funds to keep buying.
Grains back higher today but Darin Newsom with Barchart thinks it’s mostly technical buying and seasonals. He’s doubtful the market is really concerned about U.S. or global production concerns.
Grains eased on Tuesday on profit taking after running into some chart resistance and Bryan Doherty, Total Farm Marketing says the markets were overbought and due for a correction.
Grains saw profit taking, farmer selling, China tariffs & higher Brazil crop estimates. Milk reversed off contract highs, while cattle rallied with lower corn, higher beef. Bryan Doherty, Total Farm Marketing, has more.
Grains see profit taking on the announcement of additional China tariffs, plus Conab raises Brazil estimates. Livestock bounce on short covering, higher products, lower feed. Kent Beadle, Paradigm Futures, has more.
Grains rally led by wheat on continued crop concerns and fund short covering. Live cattle lower despite the futures discount to cash. Hogs fall on the futures premium to the LHI. Brian Grete, Pro Farmer, has more.
Brian Grete, Pro Farmer editor, says wheat led the price rally in wheat once again adding weather premium on global production concerns.
Grain & livestock futures are mostly higher. Brad Kooima, Kooima Kooima Varilek says cattle are at a discount to steady to higher cash which is supportive, Hogs see short covering. Grains continue to add risk premium.
Chip Nellinger, Blue Reef Agri-Marketing, says if rains continue to delay planting and wheat areas like Russia and the Southwest Plains miss forecasted rains that could continue to drive buying interest in the grains.
Grains end higher on Friday after the WASDE but was the market trading the report or was it weather and fund short covering? Chip Nellinger, Blue Reef Agri-Marketing, has more plus talks cattle.
Grains higher post-WASDE. U.S. numbers came in friendly for corn, neutral for wheat but bearish for soybeans. So, is the market trading the report or is it fund short covering? Matt Bennett, AgMarket.Net, has more.
Cattle and hogs both try to bounce but the cattle market lacks confidence due to bird flu says Scott Varilek, Kooima Kooima Varilek. Grains higher but can those gains hold in the face of a potentially bearish WASDE?
Tommy Grisafi, Advance Trading, says grain prices are well off their lows on crop concerns but he cautions farmers weather markets can be volatile and fleeting.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says the early new crop estimates for the May WASDE are larger than last year which is potentially bearish, but still in line with the USDA Ag Outlook Forum.
Arlan Suderman, ,StoneX, says the rally into new highs for the move was met with farmer selling and funds took a pause heading into the WASDE, but they may not be done lightening their short position.
Grains ease on Tuesday on farmer selling and lack of fund buying. Arlan Suderman with StoneX says weather concerns may be priced in until after the WASDE.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says grains mixed as fund buying pauses and with increased farmer selling. Markets are watching weather, WASDE. Livestock see a Turnaround Tuesday bounce.
Tommy Grisafi, Advance Trading, says it’s the combination of weather and production concerns globally and in the U.S. that have finally caught the grain market’s attention and will dictate how high prices go.
Grains rally on weather and technical buying. Will funds keep covering their short positions with the chart breakouts and what kind of rally could that produce? Tommy Grisafi, Advance Trading, has answers.
Brad Kooima, Kooima Kooima Varilek, says cattle are trading more H5N1 headlines and disregarding higher cash, hogs are following. Grains are adding weather premium, but he cautions weather rallies are fleeting.
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.
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.
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.
Cattle rally after negative tests for H5N1 in ground beef and improving cash says Scott Varilek, Kooima Kooima Varilek. Grains are putting in weather premium, is a chart breakout in the works?