Black Sea
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.
Mike Castle of StoneX says with a lack of any major news, corn and soybeans saw a bit of positioning ahead of the Aug. 12 WASDE Report
Allison Thompson with The Money Farm says grains are drifting quietly lower with no fresh new news and awaiting the WASDE.
Mike Minor of Professional Ag Marketing says the rains will have a bigger impact on soybeans, which are leading the losses.
John Heinberg with Total Farm Marketing says corn also got a boost from the 4% drop in crop ratings down to 63% good to excellent, the largest drop for the week in 20 years.