Brad Kooima of Kooima Kooima Varilek, says cattle futures are in recovery mode for a second day after scoring key weekly reversals last week on the charts, a bearish sign of a possible top. Corn is also trying to bounce after new lows for the year in the December contract.
Shawn Hackett, Hackett Financial Advisors, says grain and cotton markets all ended lower on Friday and for the week. He provides several reasons he thinks the market participants are too bearish compared to the fundamentals.
Scott Varilek, Kooima Kooima Varilek, says after two ugly down days in cattle futures the markets are trying to recover and so is the soybean market.
Jeff Hoogendoorn, Professional Ag Marketing, says the sell off in bean oil was tied to unconfirmed rumors the draft proposal on the Renewable Volume Obligations (RVO) for bio-mass based diesel were sent to the Office of Management and Budget (OMB) with lower than expected volumes.
Soybeans are down with soybean oil which touched limit down overnight on unconfirmed rumors EPA would setting RVO levels for biomass based diesel below anticipated levels.
Ted Seifried, Zaner Ag Hedge, says soybeans have been seeing continued strength off the bullish WASDE numbers allowing it to clear some technical objectives. But the market needs other fundamental factors to come together to clear $11.
Vince Boddicker, Farmers Trading Company, thinks more constructive developments on trade with China are part of the equation but so is the push from soybean oil.
John Heinberg, Total Farm Marketing, says soybeans saw profit taking pressure early Tuesday but clawed back to close slightly higher with the help of the soybean oil market. However, corn continues to fail.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says soybeans are seeing some profit taking after the rally Monday and after running into chart resistance in the July contract around $10.75 Monday night.
Chip Nellinger, co-owner of Blue Reef Agri-Marketing, says soybeans soared on the combination of positive China trade news and the bullish May WASDE.
Unpack two key factors likely resulting in record cattle prices and impacts to the industry.
The markets have several big headlines they’re digesting including news over the weekend that China and the U.S. are de-escalating the tariff war.
Mike Zuzulo, Global Commodity Analytics, says the strength in soybeans was tied to optimism about tariffs on China being lowered by the U.S., while wheat saw some short covering.
Scott Varilek, Kooima Kooima Varilek, says cattle continue to hit all-time highs in cash and futures. While corn is seeing some short covering after new lows for the move on Thursday.
Randy Martinson, Martinson Ag, says corn made new lows for the move in tandem with wheat and faded strong export sales and the U.K. trade deal.
Darin Newsom, Senior Market Analyst for Barchart, corn and wheat are anchoring each other lower with the market shifting its focus to larger supplies ahead and comfortable available stocks.
Dave Chatterton, Strategic Farm Marketing, says the markets faded the news as the realization set in that no major breakthroughs in the trade talks are expected and a long term trade deal with China could take quite some time.
Kent Beadle, Paradigm Futures, says corn and soybeans rallied overnight and early Wednesday on the news China and U.S. are beginning trade talks this weekend.
Brad Kooima, Kooima Kooima Varilek, says cash cattle trade was record high again last week with $223 live paid in much of the North and even a few $224 trades to a regional. Grains are mostly lower.
Oliver Sloup, Blue Line Futures, says there was risk on buying across the commodity and financial markets due to more positive trade news and economic headlines.
Kevin Duling, KD Investors, says soybeans see a bounce Thursday after four down days on technical buying and with help from soybean oil.
Randy Martinson, Martinson Ag, says corn and wheat futures are seeing some technical buying with first notice day and end of month positioning out of the way.
DuWayne Bosse, Bolt Marketing, says corn and wheat are seeing end of the month short covering and some pressure taken off now that First Notice Day is in the rear view mirror.
Allison Thompson with The Money Farm says a combination of bearish factors combined to pressure the grain markets Tuesday including the fast planting pace.
John Heinberg, Total Farm Marketing, says corn and soybeans see pressure from the fast planting progress and an open weather forecast next week, plus first notice day positioning.
Alan Brugler, A&N Economics, says wheat and corn ended lower but soybeans rebounded after early pressure. Cattle made more contract highs.
Brad Kooima, Kooima Kooima Varilek, says grains are seeing pressure on weather. However, both live and feeder cattle futures are making new contract and all-time highs on last week’s record cash.
Don Roose, U.S. Commodities, says grains had a quiet day as they were also consolidating around strike prices as it was May option expiration.
Darin Newsom, Senior Market Analyst with Barchart, Inc., tries to explain the higher day in the grains, especially soybeans, with the bearish Chinese trade news. So, what drove the rally?
Matt Bennett, AgMarket.Net, says soybeans rallied with the tailwind of more talk of Chinese tensions easing and May closed above key 200-day moving average resistance.