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AgDay TV Markets Now: Brad Kooima of Kooima Kooima Varilek discusses the weather rally in row crops and if it can be sustained after running into chart resistance. And has the cattle market put in a short term top?

The soy complex edged higher, led by a surge in soybean futures amid a second week of lower-than-expected government ratings and supportive outside markets.

The 2023 crop is in the ground and growing steady, just like ag’s financial risks this year, according to Alan Rosendahl, farmer and senior vice president at Iowa State Bank in Kesley, Iowa.

The CPI for May shows egg prices experienced the largest monthly drop in 72 years, but the price consumers are paying for a dozen eggs is still well above average over the past 10 years.

The Inflation Reduction Act is the most significant climate legislation ever enacted. The package includes more than $19 billion to support USDA conservation programs, but the money won’t last forever.

Iowa State researchers find this is the state’s highest level of farmland owned debt-free. In 1982, Iowa’s debt-free land ownership was only 62%.

The latest Ag Economy Barometer shows farmer sentiment has soured as crop prices have tumbled over the past month, but it’s not all gloom and doom. Strong working capital can help address the downturn in farm country.

Meat demand peaked last year, but economists say domestic demand is still stronger than pre-pandemic levels, and with more grilling this Memorial Day weekend, it could help boost domestic meat demand.

Weather conditions at planting, herbicide damage, insects and poor closure of the furrow are just a handful of the factors that can hinder corn emergence success.

Grains up on fund buying, putting in weather premium w/drop in crop ratings, but soy products are also pushing beans. Cattle consolidate w/higher corn, hogs mixed. Tomm Pfitzenmaier, Summit Commodity Brokerage.