Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Oliver Sloup, Blue Line Futures, says there was risk on buying across the commodity and financial markets due to more positive trade news and economic headlines.
Scott Varilek, Kooima Kooima Varilek, says cattle futures continue to hold strong with more record cash. While grains are also in the green on value buying and trade hopes.
Gregg Doud, President and CEO of the National Milk Producers Federation and former U.S. Chief Ag Negotiator, offered a wide-ranging analysis of the Trump administration’s evolving tariff strategy.
Kevin Duling, KD Investors, says soybeans see a bounce Thursday after four down days on technical buying and with help from soybean oil.
Randy Martinson, Martinson Ag, says corn and wheat futures are seeing some technical buying with first notice day and end of month positioning out of the way.
House and Senate Ag Committee leaders are considering increasing statutory reference prices for major farm program crops as part of a budget reconciliation measure.
Craig Turner, grain and oilseed analyst with StoneX, says corn and wheat saw corrective buying as it was end of the month and past first notice day for May futures.
DuWayne Bosse, Bolt Marketing, says corn and wheat are seeing end of the month short covering and some pressure taken off now that First Notice Day is in the rear view mirror.
Brazil’s Mato Grosso farmers lobby Aprosoja-MT has filed a lawsuit against global grain companies over Brazil’s so-called “soy moratorium.”
Allison Thompson with The Money Farm says a combination of bearish factors combined to pressure the grain markets Tuesday including the fast planting pace.
John Heinberg, Total Farm Marketing, says corn and soybeans see pressure from the fast planting progress and an open weather forecast next week, plus first notice day positioning.
China’s top planning officials said Monday the country’s grain supply remains secure even without U.S. feed grain and oilseed imports.
Alan Brugler, A&N Economics, says wheat and corn ended lower but soybeans rebounded after early pressure. Cattle made more contract highs.
Brad Kooima, Kooima Kooima Varilek, says grains are seeing pressure on weather. However, both live and feeder cattle futures are making new contract and all-time highs on last week’s record cash.
Jerry Gulke, president of the Gulke Group, says, “Soybeans have been the surprise and there are several factors that have allowed that market to remain resilient.”
Don Roose, U.S. Commodities, says grains had a quiet day as they were also consolidating around strike prices as it was May option expiration.
Scott Varilek, Kooima Kooima Varilek, says live cattle traded two-sided early Friday as the market awaits larger scale cash development with stronger prices anticipated. Grains are quietly mixed.
The American Farm Bureau Federation (AFBF) urged the Trump administration and EPA Administrator Lee Zeldin to issue clearer regulatory guidance on the revised “Waters of the United States” (WOTUS) rule.
Darin Newsom, Senior Market Analyst with Barchart, Inc., tries to explain the higher day in the grains, especially soybeans, with the bearish Chinese trade news. So, what drove the rally?
Mike Minor, Professional Ag Marketing, says grain and livestock futures are seeing consolidation with an eye on China trade news, exports and weather.
Matt Bennett, AgMarket.Net, says soybeans rallied with the tailwind of more talk of Chinese tensions easing and May closed above key 200-day moving average resistance.
Allison Thompson, The Money Farm, says soybeans are seeing follow through buying on Wednesday with the de-escalation of the China trade war.
The swift escalation of trade tensions and extremely high levels of policy uncertainty are expected to have a significant impact on global economic activity.
Dan Basse, president of Ag Resource Company in Chicago, says corn was pressured by the fast planting pace of 12% nationally and a slightly more open forecast for the next week or so.
Mark Knight, Farmer’s Keeper Financial, says corn and wheat are under pressure from fast corn planting pace and rains in the forecast for hard red winter wheat country. Soybeans bounced off support, but need to take out technical resistance to keep the momentum going.
Vice President JD Vance and Indian Prime Minister Narendra Modi welcomed significant progress in talks for an early trade deal between the two countries.
Vince Boddicker, Farmers Trading Company, says grain and cattle markets saw selling Monday in tandem with the collapse in outside markets.
Brad Kooima, Kooima Kooima Varilek, says grains lose early strength running into chart resistance. While cattle also started higher with the sharply higher cash trade Thursday but faded.
Scott Varilek, Kooima Kooima Varilek, says live and feeder cattle futures closed strong on Thursday and for the week, pushed by cash. While new crop corn and soybeans gained as the market transitions from focusing on demand, to focusing on supply.
Rep. Jim McGovern (D-Mass.) bluntly stated, “There will be no farm bill if SNAP is gutted.”