Market Analysis
Funds buy in grains with concerns about wheat production and the Black Sea Grain deal. Cattle narrow the gap between cash and futures, while hogs sense a seasonal cash bottom. Arlan Suderman of StoneX has more.
Grains up as funds put in war premium. Wheat leads on crop concerns with Jul KC over $9. Livestock cattle are consolidating after the higher week, while the higher LHI helps hogs. DuWayne Bosse of Bolt Marketing.
Grains up putting in war premium w/the Black Sea Grain deal uncertain, but wheat is pricing in crop concerns. LC consolidate after a higher week, feeders and hogs strong. Randy Martinson, Martinson Ag. has details.
The WASDE report was bearish for corn with a 2.22 bb ending stocks estimate and beans at 335 mb. But bullish for wheat with the lower HRW crop. Jim McCormick of AgMarket.Net has price reaction.
Markets digest record corn and soybean production in the May WASDE. With abandoned acres, winter wheat is the bullish surprise.
AgDay TV Markets Now: John Heinberg with Total Farm Marketing explains the market reaction to the bullish wheat surprise and bearish corn and soybean numbers in the WASDE Report.
Winter wheat’s rally held up corn with ending stocks at a bearish 2.22 billion bushels. How low do soybeans go to price in a 335-million-bushel carryover? John Heinberg, Total Farm Marketing, shares his insights.
Grains mixed ahead of the WASDE Report. What should we watch for and how much is baked into prices? Livestock 2-sided. Cattle have worked in lower cash, hogs Prop 12. Mike Zuzulo of Global Commodity Analytics.
AgDay TV Markets Now: Rich Nelson of Allendale says funds sell in corn and wheat on exports, weather and WASDE, while soybeans follow meal higher.
Funds sell in corn & wheat on wx, poor exports, WASDE, outside markets. While soybeans bouce w/meal, lower Argentina estimate. Lower cash weighs on live cattle, hogs react to Prop 12. Rich Nelson, Allendale.
Funds sell in corn & wheat on poor exports, soybeans bounce with meal & a cut in Argentina, but is this also report positioning? Cattle rebound despite lower cash, hogs fail on Prop 12 news? Darin Newsom, Barchart.
Live cattle see more selling on outside markets, lower So. cash at $170. Hogs up on strong exports, higher cash. Grains down on poor exports, bearish WASDE. Scott Varilek, Kooima Kooima Varilek has details.
AgDay TV Markets Now: Mike Minor of Professional Ag Marketing says corn hold support while funds sell in soybeans ahead of WASDE with bearish anticipation.
Grains mostly lower except corn, with short covering after holding last week’s lows as markets for the WASDE Report. Cattle and hogs see profit taking w/bearish outside markets. Mike Minor, Professional Ag Marketing.
Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Live cattle mixed awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag.
Wheat under pressure as inspections resume in the Black Sea and some rain chances in HRW areas. Corn and soybeans bounced off support with no China cancellations, WASDE positioning. Nick Tsiolis, Farmer’s Keeper.
AgDay TV Markets Now: Garrett Toay of AgTraderTalk says corn and beans see fund selling with fast planting, China cancellation and positioning for WASDE. However, he thinks markets may be too bearish.
Grains mostly lower except hard wheat classes w/technical selling on China cancellations, fast planting, WASDE positioning. Cattle saw short covering on better cash ideas, w/hogs also up. Garrett Toay, AgTraderTalk.
Grains lower on fast planting, China corn cancellations, WASDE positioning, risk off outside markets. Live cattle mixed awaiting cash, while hogs are consolidating. DuWayne Bosse, Bolt Marketing has details.
Live cattle 2-sided but Brad Kooima, Kooima Kooima Varilek says cash could be steady/higher. Hogs mixed but struggle with big supplies. Grains lower on fast planting, wx, WASDE, China cancels 10.7 mb corn.
AgDay TV Markets Now: Pro Farmer’s Brian Grete Says Grains End Mostly Lower on Weather, WASDE, Money Flow and Black Sea Grain Deal Uncertainty.
Grains end mostly lower except hard red wheats on weather, WASDE positioning and money flow. Cattle bounce with help from futures discount to cash, while hogs wait for cash to catch up. Brian Grete, Pro Farmer.
Wheat tries to hold early gains, with the rest of the grains fading ahead of crop progress and the May WASDE. Cattle rebound but await cash, hogs try to consolidate after an ugly week. Kent Beadle, Paradigm Futures.
Grains start higher after higher weekly closes, but fade trading weather, planting progress, WASDE. Cattle bounce after a lower week, while hogs see 2-sided trade. Tomm Pfitzenmaier w/Summit Commodity Brokerage.
Jerry Gulke’s marketing advice is to stay defensive: “You may not want to go long in these markets given the economy, but you probably don’t want to sell anymore.
AgDay TV Markets Now: John Payne of Hedge Point Global Markets discusses the higher weekly closes and if that confirms seasonal lows in the grain markets.
Grains end higher Friday and for the week. Is the market confirming a bottom? A lower week for cattle on consolidation and hogs slide on sow liquidation. John Payne, Hedge Point Global Markets, shares insights.
Grains adding to gains. Is the market putting in a seasonal low? Cattle and hogs have a down week with lower cash and sow culling. Jeff Hoogendoorn, Professional Ag Marketing.
Darin Newsom with Barchart discuss whether or not he thinks the grain markets are bottoming, especially after the key reversals in wheat. But is it technical or fundamental? Plus, we discuss if crude oil bottomed.
AgDay TV Markets Now: Chip Nelliger, Blue Reef Agri-Marketing says wheat built on the key reversal and may be trying to bottom, while corn and soybeans held up despite bearish news.