Black Sea
The market wants details, especially of what is included in the additional $17 billion prorated ag purchases China has promised, beyond soybeans
Randy Martinson of Martinson Ag says the trade truce being extended for just two months is a disappointment.
Kevin Duling with KD Investors says the algorithm traders continue to trade the war headlines even though it is unlikely there will be any change in the status quo.
Darren Frye with Water Street Solutions says the market also removed some geopolitical or war premium with talk of possible progress on the wars in the Middle East and Black Sea region.
Scott Varilek with Kooima Kooima Varilek says the cattle market is very oversold and due for a bounce but the long term charts have been damaged.
Rich Nelson with Allendale says the corn and wheat markets saw profit taking but also latched on to Black Sea headlines indicating Russian President Putin was open to a peace deal with Ukraine.
Mike Minor with Professional Ag Marketing says grains are seeing profit taking but a catalyst creating some selling is news accounts that Russian President Putin may be considering a peace deal with Ukraine.
Don Roose with U.S. Commodities says the grains have seen rotating leadership but the bull market is currently being led by wheat and will needs continue Black Sea headlines to keep moving higher.