Joe Glauber, senior research fellow with the International Food Policy Research Institute, says the trade imbalance may not be as concerning as it looks on the surface.
Grain markets failed to extend Thursday’s gains after hitting chart resistance and fear of record yields in the Aug. 12 WASDE. However, Shawn Hackett of Hackett Financial Advisors, says the market may have already priced in the biggest yields.
Scott Varilek, Kooima Kooima Varilek, says cattle saw some early profit taking pressure after contract and record highs again Thursday. However, the cattle futures have been resilient and every break seems to get bought, which is a good sign of a bull market.
Sam Hudson with Corn Belt Marketing says corn made contract lows again Wednesday as funds continue to sell on record yield estimates from private firms. However, the pressure is about more than just yield.
Greg McBride with Allendale, Inc. says soybeans and wheat saw early strength on Wednesday but the markets have struggled to hold gains with corn making new contract lows again.
John Heinberg of Total Farm Marketing says funds sold across the grain complex pushing corn to new contract lows again. Corn saw pressure from historically high crop ratings and record yield estimates.
Brady Huck with Advance Trading, Inc. says corn continues to grind into new contract lows with a strong crop rating of 73% good to excellent on Monday and StoneX’s record 188.1 bushel yield forecast.
Tommy Grisafi with Nesvick Trading Company says soybeans and meal both saw a short covering bounce after a long string of lower days, while corn made more contract lows.
Brad Kooima of Kooima Kooima Varilek says cattle futures started higher early Monday on the heels of record cash. Grains tried to bounce but may have a tough time holding any gains with favorable weather, big yield ideas and trade uncertainty.
Bryan Doherty with Total Farm Marketing says grain markets were lower on Friday and for the week with pressure coming from non-threatening weather, big yield ideas as well as trade concerns tied to tariffs.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures are trying to recover after an ugly day Thursday that ended with bearish reversals. Grains are mixed on favorable weather and tariff news.
Alan Brugler, A&N Economics, says soybeans sank on demand concerns with large global supplies and China continuing to buy from South America. November soybeans fell below $10 and project even lower.
Kevin Duling, KD Investors, says corn is trying to bounce Wednesday off of new contract lows scored in old crop futures and wheat is also trying to recover after new lows on Tuesday.
Matt Bennett, AgMarket.Net, says it was an ugly day in the grain markets with old crop corn making new contract lows once again with spillover pressure from wheat and a higher dollar.
Garrett Toay, AgTraderTalk, says corn and soybeans continued to push back towards recent lows on weather as areas of the Corn Belt saw rain over the weekend and the heat is starting to ease.
Joe Kooima of Kooima Kooima Varilek says both live and feeder cattle futures gapped higher into all-time and contract highs again on Monday morning on the heels of the bullish USDA Cattle on Feed and Cattle Inventory Reports. Grains opened lower as weather is trumping export and trade news.
Scott Varilek with Kooima Kooima Varilek says both live and feeder cattle futures had a nice recovery and got within striking distance of the all-time highs set earlier in the week.
Darin Newsom, Senior market analyst for Barchart, Inc. says grains are working on a lower weekly close this week with the early pressure Friday. Funds have had no reason to buy grains he says.
Jim McCormick, AgMarket.Net, says corn saw a dead cat bounce with 3-cent gains on light short covering and solid export news.
Randy Martinson, Martinson Ag, says corn saw some early strength bouncing off support areas on the charts but is struggling to hold gains due to mostly favorable extended weather forecasts.
Dan Basse, president, Ag Resource Company, says the grain markets faded the announcements regarding three trade deals, including Japan, due to the lack of details.
Market analysts attribute the strong beef demand to several factors including the consumer craze for protein.
Bryan Doherty with Total Farm Marketing says soybeans are seeing a slight bounce early in the session on trade news.
Rich Nelson of Allendale, Inc. says funds returned to sell in corn and soybeans on weak technicals, weather and crop ratings.
Mike Minor, Professional Ag Marketing, says corn and soybeans continue to see fund selling and broke below key moving averages Tuesday morning.
Corn, soybeans and wheat ended lower on Monday seeing some profit taking after higher weekly closes in the grain complex last week according to Darren Frye, Water Street Solutions. Weather was also a factor.
Brad Kooima with Kooima Kooima Varilek says the cattle futures opened lower on Monday on follow through selling after the bearish reversals scored on Friday. Corn and soybeans fall with rains over the weekend in the Corn Belt.
Don Roose, U.S. Commodities, says grain markets rallied Friday and were higher for the week. The markets saw technical buying and short covering as traders were adding weather premium in the corn market, and to some degree to soybeans. But is weather enough to bottom the market?
Naomi Blohm with Total Farm Marketing says corn took a break after a three-day rally running into chart resistance in the December contract around $4.25.
Ted Seifried, Zaner Ag Hedge, says corn and to some degree soybeans, were adding weather premium as some heat comes is predicted for much of the Corn Belt in the extended forecasts. However, talk of China business also stirred up the trade.