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Greg Peterson – Machinery Pete – talks his weekly Pete’s Pick of the Week and other used equipment market news during his weekly AgriTalk appearance with host Chip Flory.

Grain markets have flatlined to start the week as the lack of new news has kept buyers and sellers at bay. These are the technicals we are watching that could change that.

The first look at a new farm bill could happen as early as next week. It’s long overdue after nothing was released out of Committee in 2023. Now, there’s growing doubt a farm bill will even be passed in 2024.

Two UC-Davis analysts in a report highlighted that satisfying sustainable aviation fuel (SAF) goals would require a significant increase in soybean plantings, almost by 50%.

Brian Grete, editor of Pro Farmer, says the grains have been rangebound and sideways awaiting the April WASDE and with not a lot of fresh news to move the markets. Cattle are trying to find a bottom.

China has initiated a new round of action to significantly increase its grain output in the coming years via an increase in planted area and yield, in the latest effort to ensure food security.

Grains continue to trade sideways looking for a catalyst to push the funds out of their short positions. Pro Farmer Editor Brian Grete says the April WASDE could provide the next piece of fresh market moving news.

Grain markets lean higher early Monday with wheat seeing a rally which is helping corn and soybeans. Kent Beadle with Paradigm Futures says live cattle are finding some support with hogs lower on profit taking.

Jon Scheve discusses historical trends to see how likely a corn rally really is.

Cattle futures were under heavy pressure on Friday, will that spill into early morning weakness or will buyers buy the dip?