Market Analysis
Grains higher on disappointing rains corrective buying, strong soy products, which spilled over into wheat. Cattle see profit taking w/lower boxed beef. While the dollar was down last week. Darin Newsom, Barchart.
Darren Frye of Water Street Solutions says grains slide on favorable weather and the anticipation of the July WASDE report and the possibility of USDA cutting yield.
Grains lower on favorable weather but also awaiting supply direction from the WASDE. Cotton closes higher but is still rangebound. Cattle post a strong recovery with lower corn. Darren Frye, Water Street Solutions.
Grains lower with wetter extended weather, sluggish exports & awaiting direction from the WASDE. Will USDA make yield adjustments? Cattle bounce on lower corn, while hogs consolidate. Joe Vaclavik, Standard Grain.
Grains mostly lower w/better weather, pre-report positioning awaiting what USDA does with yield in the WASDE. Cattle see a technical bounce w/lower corn, profit taking pressures nearby hogs. Jim McCormick, AgMarket.Net.
AgDay TV Markets Now: Dave Chatterton, Strategic Farm Marketing, says corn ends higher, soybeans lower on profit taking, spread unwinding, correcting the corn/bean ratio. Plus, determining balance sheets pre-WASDE.
Corn up, soybeans down w/profit taking, correcting spreads & corn/bean ratio, pre-WASDE squaring. Wheat’s a follower. Cattle fall w/steady-$1 lower cash. Hogs consolidate. Dave Chatterton, Strategic Farm Marketing.
Corn higher, soybeans lower correcting spreads and the corn/bean ratio w/drought concerns. Cattle further consolidate but cash still holding steady. Nearby hogs clear $100. Scott Varilek, Kooima Kooima Varilek.
Grains mixed on spreads and looking ahead to the WASDE for yield and ending stocks direction. Is the cotton market ready to break out technically? Cattle consolidating. Shawn Hackett, Hackett Financial Advisors.
AgDay TV Markets Now: Don Roose, U.S. Commodities talks about the factors that rallied the wheat market Wednesday, including corrective buying and crop concerns, and why corn and beans faded into the close.
Wheat up on wx, harvest concerns, Ukraine nuclear plant threat. Row crops hold gains digesting acreage & wx. Profit taking hits cattle after new highs, hogs follow higher cash & cutouts. Don Roose, U.S. Commodities.
Wheat up w/dryness concerns in HRS & slow HRW harvest. Corn & beans see profit taking. Feeders make contract highs, live cattle consolidate and hogs follow higher cash, cutouts. Mark Schultz, Northstar Commodity.
Soybeans higher digesting lower acres but end off highs on profit-taking, corn & wheat lower. Feeders make contract highs, LC see profit taking, bull spreads continue in hogs. Chip Nellinger, Blue Reef Agri-Marketing.
AgDay TV Markets Now: Matt Bennett, AgMarket.Net discusses where ending stocks and prices project to for corn and soybeans after USDA’s shocking shift in acres.
Soybeans ended sharply higher with a 4 ma cut so where does that put ending stocks? Corn picked up another 2 ma so will that be offset by yield? Cattle soared on the lower corn. Matt Bennett with Ag Market.Net.
USDA reports had a bullish surprise for soybeans w/around 4 million less acres & lower stocks, but bearish for corn with 94.1 ma. Wheat acreage and stocks slightly lower acreage. John Heinberg, Total Farm Marketing.
Grains higher on corrective bounce, positioning pre-report and assessing storm damage and weather. Live cattle supported by steady cash in the north, hogs work in bearish report numbers. Randy Martinson, Martinson Ag.
AgDay TV Markets Now: Rich Nelson of Allendale discusses what the grain markets will trade Friday. Will weather trump the reports?
Corn had an ugly technical day removing weather premium. Soybeans bounced led by July ahead of the report. Wheat follows corn. Cattle bounced with lower corn, fund buying, hogs mixed pre-report. Rich Nelson, Allendale.
Corn lower as rains fall, while soybeans bounce off retracement ahead of reports. Cattle bounce off weak start on lower corn, light fund buying. Hogs consolidate pre-report. Scott Varilek of Kooima Kooima Varilek.
Grain try to bounce after hitting retracement and as drought expands, pre-report. Cattle consolidate with higher corn, hogs also set back before the report. DuWayne Bosse, Bolt Marketing.
AgDay TV Markets Now: As grains sink Chuck Shelby of Risk Management Commodities discusses strategies for farmers to market in these volatile times and with concerns about getting a crop.
Ugly day in the grains with fund liquidation/profit taking on rain chances, EOQ, report positioning. Cattle impress with lower corn. Hogs mixed preparing for the report. Jeff Hoogendoorn, Professional Ag Marketing.
AgDay TV Markets Now: Alan Brugler with Brugler Marketing says grains plummet removing risk premium with forecasted rains and ahead of USDA Reports, despite the lowest crop ratings since 1988.
Grains end sharply lower as funds took profits on possible rain, end of quarter and USDA reports. Cattle bounced but has the market finished its correction and are hogs near a top? Alan Brugler, Brugler Marketing.
Grains lower ignoring lower crop ratings as funds take profits on forecasted rains, EOQ and pre-USDA reports. Cattle surge on lower corn, hogs are mixed but may be topping. Chuck Shelby, Risk Management Commodities.
Cattle higher on lower corn but will it hold with lower cash expectations? Hogs see some profit taking ahead of Hogs/Pigs Report. Gap lower in grains with forecasted rains. Brad Kooima, Kooima Kooima Varilek.
AgDay TV Markets Now: John Payne, Hedge Point Global Markets, says corn and beans trade higher on weather, strong soy products ahead market movers like first notice day and big reports.
Soybeans higher following products, corn & wheat mixed chasing Russia headlines, weather, reports. Cattle correcting after COF, lower cash and beef. Hogs strong helped by cash. John Payne, Hedge Point Global Markets.
Wheat up early on Russia headlines but fade after poor exports news. Corn mixed assessing weekend rains, with soybeans pushed by soybean oil. Cattle lower on COF, cash idea. Hogs up. Kent Beadle, Paradigm Futures.