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Soybeans see short covering, with more fund selling in corn and wheat into contract lows. Cattle make new highs for the move, can they keep going? Hogs firm but hit chart resistance. Rich Nelson, Allendale, has more.

AgDay TV Market Now: Rich Nelson with Allendale says funds keep selling despite holding the second longest short position in history.

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.

Gulke has heard the argument that the funds hold a near-record short position in the grain and oilseed complex and will eventually need to exit those positions. However, he says it’s not that simple.

A sudden change in soil density that occurs from the freezing-thawing process can cause problems with corn root growth this spring and impede water movement in the soil during the growing season.

USDA’s Ag Outlook Forum in Washington, D.C., this past week confirmed growing stocks in 2024/2025. Analysts say without a sudden supply disruption, the commodity price outlook remains grim.

“It’s hard to put yourself in growth mode when things are getting so expensive,” says Tanner Ehmke with CoBank.

A recap of this week’s price action with outlook broken down into the next 5, 30 and 90 day segments.