Argentina

Joe Kooima of Kooima Kooima Varilek says the funds were liquidating long positions on the open Friday after President Donald Trump said the administration was working on a plan to lower beef prices. Some of it was triggered by algorithm trades that key their formulas off headlines.

Mike Minor with Professional Ag Marketing says soybeans saw hedge pressure with a dry open weekend for harvest across the Midwest but corn also hit chart resistance.

Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are higher early Monday. The cash feeder market has continued to move higher, so will it be able to lead the cattle futures back to new highs?

Matt Bennett with AgMarket.Net says he was surprised soybeans held the $10 level with all of the bearish demand news the market had to digest including China buying Argentina soybeans.

John Heinberg with Total Farm Marketing says grain markets rallied on Thursday as Argentina’s government announced it would be renewing its export tax.

Sam Hudson with Corn Belt Marketing says grains saw an early bounce on Thursday with news overnight that Argentina had reinstates it’s export tax on grains, which is at 26% for soybeans.

Mark Schultz, Northstar Commodity, says soybeans ended lower in tandem with lower soybean meal as China reportedly bought another 10 plus cargoes of lower priced Argentine soybeans after they dropped their export tax.

Kent Beadle with Paradigm Futures says the soybean market saw a bit of recovery on Tuesday and was trying to hold Wednesday morning with news that China has purchased more Argentina soybeans.

Brian Grete, senior analyst with CommStock Investments says the soybean market has priced in most of the negative export news out of Argentina.

Arlan Suderman, chief commodities economist for StoneX, says soybeans did technical damage on hangover from the disappointing talks with China and Argentina’s announced export tax holiday.