Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Randy Martinson, Martinson Ag, says grain and hog markets opened lower reacting to President Trump announcing Thursday afternoon the U.S. would be moving ahead with 25% tariffs on Mexico and Canada on Feb. 1.
Jeff Hoogendoorn, Professional Ag Marketing, says corn and cattle are major bull markets and there are certain signals he’s looking for to indicate all of the bullish fundamentals are worked into prices.
Lutnick repeatedly called for restoring “reciprocity” in trade with other countries.
Kent Beadle, Paradigm Futures, says grains rallied with corn making new highs for the move but wheat also saw double digit gains.
Chip Nellinger, Blue-Reef AgriMarketing says grains rally with corn pulling up the rest of the complex on South American weather concerns.
This incident comes as China stopped receiving Brazilian soybean shipments amid phytosanitary issues.
Fed cash cattle hit a new record high for a fourth straight week with the five area weighted average at $210.79, up $7.12 from the previous week.
Chuck Shelby, Risk Management Commodities, says grains close higher seeing fund buying and consolidation with the markets still digesting possible tariffs and South American weather.
DuWayne Bosse, Bolt Marketing, says corn and wheat are trying to recover Tuesday with fund short covering.
Dr. Vince Malanga criticizes the Federal Reserve’s claims of being non-political.
Mike Zuzulo, Global Commodity Analytics, says grains further corrected with funds liquidating in corn, soybeans and meal due to rains over the weekend in Argentina and more in the extended forecast.
Cattle hit record highs again and hogs follow, says Brad Kooima of Kooima Kooima Varilek. Grains break on South America weather and tariff concerns.
Corn, soybeans and wheat all closed higher for the week in the face of heightened uncertainty. Jerry Gulke, president of the Gulke Group, says to him that kind of resilience is an underlying sign of a bull market.
Soybean market outlook broken down into 5, 30 and 90 day segments.
Dan Basse with Ag Resource, says grain markets set back on profit taking after running into chart resistance and news Argentina is lowering its export taxes on grains.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are making record highs once again with cash in the North trading from $210 to $212 on Friday morning. Grains under pressure as Argentina lowers its export taxes on grains.
Craig Turner with StoneX says corn and soybeans rebounded Thursday and made fresh for the move highs on fund buying but South American weather and crop concerns are also supportive.
Chuck Shelby, Risk Management Commodities, says corn and soybeans saw profit taking after running into chart resistance on Wednesday but rebounded this morning adding back South America weather premium.
USDA announced several senior staff appointments.
Ted Seifried with Zaner Ag Hedge says corn and soybeans saw a profit taking setback after making new highs for the move and hitting significant price objectives.
Darin Newsom with Barchart says the forward spreads have been bullish in corn since August indicating strong underlying demand.
The move follows President Donald Trump’s renewed claims that China has influence over the canal and his pledge to take control of the strategic waterway.
Arlan Suderman, chief commodities economist with StoneX, says a combination of factors supported the rally in grains, which all scored new highs for the move.
Kent Beadle, Paradigm Futures, says grain markets breathed a sigh of relief there are no immediate Chinese tariffs being imposed by the Trump Administration, that sent the U.S. dollar index sharply lower which is also supportive.
Jerry Gulke, president of the Gulke Group, says the strength in corn can pull the soybean markets and maybe even wheat higher for a handful of fundamental reasons.
Tommy Grisafi with Nesvick Trading Group says corn closed above technical resistance of $4.80 despite the uncertainty of South American weather and tariffs under a new administration.
Weighing on Scott Irwin’s mind is whether U.S. grain growers need to get some downside price protection for 2025 crops.
Scott Varilek, Kooima Kooima Varilek, says cattle are down a second day despite more record cash trade. However, the row crop futures are trying to recover on strong China economic news.
Updated production forecasts from the International Grains Council (IGC).
A breakdown of new, returning and departing members