Corn, soybeans and bean oil futures ended lower on Friday fading EPA’s final Renewable Fuel Standard volumes. Dan Basse, Ag Resource Company, says the news was already priced into the markets.
Joe Kooima with Kooima Kooima Varilek says the ability of the cattle market to divorce itself from the outside markets the last two sessions has been very impressive.
Soybeans futures extended nice gains from Wednesday with demand optimism surrounding the rescheduling of the China summit for May 14 -15 and the announcement of RVOs says Jim McCormick of AgMarket.Net.
Allison Thompson with The Money Farm thinks the grains markets are starting to divorce from the influence of war headlines and trade their own fundamentals.
Soybeans were slightly higher early but saw buying accelerate and the bull spreads kick in after the White House announced a new date for the China summit says Kevin Duling of KD Investors.
Jamie Gieseke with Paradigm Futures says the energy and grain markets are still chasing headlines trying to determine a fair prices. However, farmers need to ignore that noise when trying to make marketing decisions.
Mike Zuzolo with Global Commodity Analytics says corn and wheat followed the energy markets but also added weather premium. Soybeans were lower as China has eased its phytosanitary rules to take Brazil beans.
Corn futures were back higher on Tuesday morning following a recovery in the crude oil market says Vince Boddicker with Farmer Trading Company.
Brian Grete with CommStock Investments says corn and wheat fell with crude oil as the President announced a 5-day pause in the military strikes in Iran.
Cattle futures are higher early following the big rally in the equity markets says Scott Varilek with Kooima Kooima Varilek.
Darren Frye with Water Street Solutions says longer term if energy prices stay higher the funds could continue to buy grains on inflation fears but he’s not sure about a full super cycle without several factors falling into place.
Mike Minor with Professional Ag Marketing says grains were mostly lower on Friday with profit taking heading into the weekend due to increased volatility and uncertainty regarding the Iran conflict.
Oliver Sloup with Blue Line Futures says funds were in buying on a combination of higher crude oil futures and money flow.
Joe Kooima of Kooima Kooima Varilek says cattle and hogs are struggling Thursday with the set back in the equity markets.
Dave Chatterton with Strategic Farm Marketing says the ongoing Iran war and higher crude oil prices helped drive speculative buying interest in grains.
Brady Huck from Empower Ag Trading says, “After the volatility that we’ve seen over the last couple of weeks, sometimes these markets just need to find some stability.
Randy Martinson with Martinson Ag says the limit down day in old crop soybeans was tied to the fear that the meeting between President Trump and President Xi scheduled for China at the end of the month will be delayed due to the war.
Brad Kooima with Kooima Kooima Varilek says there were a couple of reasons the market ignored the strike and the biggest was the higher equity markets and lower crude oil
Wheat was the price leader on Friday mostly on technical buying according to DuWayne Bosse with Bolt Marketing.
Cattle futures are higher early Friday in tandem with the bounce in the equity markets and the pull back in crude oil and the energy markets according Scott Varilek of Kooima Kooima Varilek.
Soybeans made new highs for the move during the session. Mark Schultz with Northstar Commodity says it was partly due to the rally in crude oil and soybean oil. However, there were also some other factors that boosted prices.
Grain markets are continuing to rally on Thursday morning. Greg McBride with Allendale says they following the energy markets and trading headlines.
Grains ended higher on Wednesday with technical buying returning as traders attempted to add risk or war premium to the market says Don Roose of U.S. Commodities.
Grains were back sharply higher on Wednesday following crude oil and adding war premium according to Darin Newsom, senior market analyst with Barchart.
Rich Nelson with Allendale says with a quiet WASDE, the corn and wheat markets were again caught in the money flow from the energy sector.
Grains futures all made new highs for the move in the overnight session but could not hold on to gains during the day says Garrett Toay of AgTrader Talk with a pick up in farmer selling.
Cattle futures are sharply lower on Monday with feeder cattle touching limit down at one point on economic uncertainty according to Brad Kooima of Kooima Kooima Varilek.
Grains markets all hit fresh highs for the move on Friday as funds piled into buy in the complex. Chip Nellinger with Blue Reef Agri-Marketing says they were adding risk premium.
Scott Varilek with Kooima Kooima Varilek says the uncertainty of the war in Iran has caused some reallocation of money this week.
Allison Thompson with the Money Farm says the rally in crude oil is causing the money to flow into he grains as a hedge against inflation.