Chuck Shelby, Risk Management Commodities, says grains close higher seeing fund buying and consolidation with the markets still digesting possible tariffs and South American weather.
DuWayne Bosse, Bolt Marketing, says corn and wheat are trying to recover Tuesday with fund short covering.
Mike Zuzulo, Global Commodity Analytics, says grains further corrected with funds liquidating in corn, soybeans and meal due to rains over the weekend in Argentina and more in the extended forecast.
Cattle hit record highs again and hogs follow, says Brad Kooima of Kooima Kooima Varilek. Grains break on South America weather and tariff concerns.
Dan Basse with Ag Resource, says grain markets set back on profit taking after running into chart resistance and news Argentina is lowering its export taxes on grains.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are making record highs once again with cash in the North trading from $210 to $212 on Friday morning. Grains under pressure as Argentina lowers its export taxes on grains.
Craig Turner with StoneX says corn and soybeans rebounded Thursday and made fresh for the move highs on fund buying but South American weather and crop concerns are also supportive.
Chuck Shelby, Risk Management Commodities, says corn and soybeans saw profit taking after running into chart resistance on Wednesday but rebounded this morning adding back South America weather premium.
Ted Seifried with Zaner Ag Hedge says corn and soybeans saw a profit taking setback after making new highs for the move and hitting significant price objectives.
Arlan Suderman, chief commodities economist with StoneX, says a combination of factors supported the rally in grains, which all scored new highs for the move.
Kent Beadle, Paradigm Futures, says grain markets breathed a sigh of relief there are no immediate Chinese tariffs being imposed by the Trump Administration, that sent the U.S. dollar index sharply lower which is also supportive.
Tommy Grisafi with Nesvick Trading Group says corn closed above technical resistance of $4.80 despite the uncertainty of South American weather and tariffs under a new administration.
Scott Varilek, Kooima Kooima Varilek, says cattle are down a second day despite more record cash trade. However, the row crop futures are trying to recover on strong China economic news.
Don Roose, U.S. Commodities says corn saw some fund buying on tight supplies and with help from concerns about Argentina weather. However, soybeans couldn’t follow, pulled down by meal.
Mike Zuzulo, Global Commodity Analytics, says corn and soybeans are watching South American weather with hot dry conditions mainly in Argentina and Southern Brazil but some rain in the weekend forecast.
DuWayne Bosse with Bolt Marketing says corn and soybeans saw profit taking after stretching to new highs for the move as the markets were overbought.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says corn and soybeans continued to see gains from strong technical closes on Friday and extending the report rally.
Brad Kooima, Kooima Kooima Varilek, says live cattle futures are consolidating which is healthy. Meanwhile, corn and soybeans make new highs for the move still digesting USDA’s bullish report data and the shocking cuts in yield, production and ending stocks.
Shawn Hackett with Hackett Financial Advisors says it will be tough for corn to run to $5 because report just confirmed what the market already knew.
Scott Varilek of Kooima Kooima Varilek says the cattle futures are digesting another week of record cash trade at $320 dressed, up $5 and the South traded some $200 live, up $4.
Grains are firmer ahead of USDA reports and 45Z guidance.
Grains are firmer ahead of USDA reports and 45Z guidance.
Allison Thompson with The Money Farm says corn has rallied nearly $1 and soybeans around 50 cents off the lows. So production and ending stocks will need to come in well under trade estimates in the USDA reports for prices to push higher.
Mark Schultz, Northstar Commodity, says corn and soybeans saw pressure from some rain added to the 11-15 day weather forecast in Argentina and Southern Brazil and USDA report positioning. Cattle saw profit taking and maybe some reaction to the border opening to Mexican feeder cattle imports soon.
Rich Nelson with Allendale, Inc. says grain markets are seeing early pressure with a rebound in the U.S. dollar index back near recent highs, but also watching South American weather and ahead of USDA reports on Friday.
Kent Beadle with Paradigm Futures says corn and soybeans are seeing profit taking and farmer selling after hitting chart resistance on Monday at previous highs and retreating.
Naomi Blohm of Total Farm Marketing says corn, soybeans and soybean meal saw fund buying and weather premium being added early in the session with hot and dry weather forecasts for 15 days out in Argentina and Southern Brazil.
Brad Kooima of Kooima Kooima Varilek says cattle futures recovered nicely from Friday’s selloff with some contracts making new highs for the move, pricing in record cash cattle trade. Grain markets are seeing fund buying with soybeans and meal leading on dry weather forecasts for Argentina.
Randy Martinson, Martinson Ag, says corn and soybeans saw early pressure as both markets ran up into chart resistance which triggered fund profit taking.
Allison Thompson with The Money Farm says corn and soybeans both ran up into chart resistance and are seeing some profit taking by technical traders.
Darin Newsom with Barchart says corn and soybeans were higher on technical buying and adding some weather premium with a hot dry extended forecast for Argentina and Southern Brazil. Cattle futures followed record cash in the South.
DuWayne Bosse, Bolt Marketing, says corn scored a new six month high close for the move on dryness in the extended forecast in Argentina and funds adding to their long position.