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Grain markets gap higher in the overnight trade but sizzle in early morning Session.

Garrett Toay, AgTrader Talk, says the seasonal highs for corn usually come in the third week of June. However, with funds nearly flat the big determinant of future direction will be weather and the June Acreage Report.

Jon Scheve discusses if the current wheat / corn spread means a corn rally will happen soon. He also shows historical trends that suggest now may be a good time to sell some corn.

A contentious House Ag Committee markup of a new $1.51 trillion farm bill began on Thursday and ended early Friday with four Democrats joining all Republicans in voting for the measure, bringing the final tally to 33-21.

The longer we wait for Golden Rice the more children will die—not because of a natural disaster that nobody can control, but because judges who don’t understand farming or science have condemned them to this fate.

Gulke says, all of the winter predictions for the grain and oilseed market haven’t come true. “So suddenly we’ve kind of turned upside down to where conventional wisdom was almost 98% wrong.,” he says.

USDA maintained its outlook for all food prices to rise 2.2% this year, with food at home (grocery) costs expected to be up 1.2%.

Grains end mostly higher Friday with pre-holiday trade but also holding weather premium. Cattle traded mostly lower ahead of the COF Report despite some record cash in the North. Garrett Toay, AgTraderTalk, has more.

Weekly overview of ag commodity market news & price action compiled by Austin Schroeder with Brugler Marketing. Not intended as trading advice. Actions taken are responsibility of the reader.