Scott Varilek, Kooima Kooima Varilek says the feeder futures have put on $22 this week and were due for a correction but still project to $388. Grains see pressure from China trade news.
Dave Chatterton with Strategic Farm Marketing says corn, soybeans and wheat were all lower on Thursday after running into solid chart resistance. However, basis is firming. So, what does that signal?
Don Roose with U.S. Commodities says soybeans ended higher for second day as it looks like the market is trying to carve out a seasonal low.
Mark Knight, Farmer’s Keeper Financial, says soybeans are back higher early Tuesday on light technical buying but awaiting details of the Trump administration’s farmer aid package.
DuWayne Bosse, with Bolt Marketing says he was surprised at how well the corn market is handling the harvest pressure that is ramping up across the Corn Belt.
Brad Kooima, Kooima Kooima Varilek, says the market is staying intact and absorbing a great deal of bearish news including last week’s lower fed cash trade and lower cutouts.
Scott Varilek with Kooima Kooima Varilek says it has been another volatile week in the cattle futures but they are still trading sideways and holding the uptrend lines. Grains are pausing after hitting chart resistance.
Bryan Doherty, Total Farm Marketing, says soybeans extended gains off of Wednesday’s reversal on technical buying and short covering but with hopes of a China deal. The trade aid announced will also keep farmer selling at a minimum.
Randy Martinson with Martinson Ag says grains started lower Wednesday on the government shutdown but soybeans reversed higher after President Trump’s social media post on China.
Dan Basse, Ag Resource Company, says corn stocks were 207 million bu. above USDA’s projected ending stocks which was bearish for the market. Soybeans also made new lows for the move despite a slightly friendly report.