Jim McCormick, AgMarket.Net, says the wheat market is adding risk premium and if it keeps going corn and soybeans could follow producing a sustained fund short covering rally.
Corn planting is now 2% ahead of the five year national average, while soybeans are currently 4% ahead, according to the April 22, 2024, USDA Crop Progress report.
A risk on day resulted in higher closes in both grain and livestock futures. What drove the buying, and will it continue? Jim McCormick, AgMarket.Net, has details.
Growing degree days (GDDs) are a more reliable method to predict corn emergence and development than calendar days. Start calculating GDDs daily the day after planting. Farm Journal Field Agronomist Ken Ferrie explains.
Cattle rally with bullish placements in the Cattle on Feed report and steady Southern cash says Brad Kooima, Kooima Kooima Varilek. Hogs fail after a chart breakout. Grains rally on EU weather/frost & short covering.
