Mike Minor with Professional Ag Marketing says soybeans saw hedge pressure with a dry open weekend for harvest across the Midwest but corn also hit chart resistance.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are higher early Monday. The cash feeder market has continued to move higher, so will it be able to lead the cattle futures back to new highs?
John Heinberg with Total Farm Marketing says grain markets rallied on Thursday as Argentina’s government announced it would be renewing its export tax.
Sam Hudson with Corn Belt Marketing says grains saw an early bounce on Thursday with news overnight that Argentina had reinstates it’s export tax on grains, which is at 26% for soybeans.
Mark Schultz, Northstar Commodity, says soybeans ended lower in tandem with lower soybean meal as China reportedly bought another 10 plus cargoes of lower priced Argentine soybeans after they dropped their export tax.
Kent Beadle with Paradigm Futures says the soybean market saw a bit of recovery on Tuesday and was trying to hold Wednesday morning with news that China has purchased more Argentina soybeans.
Brian Grete, senior analyst with CommStock Investments says the soybean market has priced in most of the negative export news out of Argentina.
Arlan Suderman, chief commodities economist for StoneX, says soybeans did technical damage on hangover from the disappointing talks with China and Argentina’s announced export tax holiday.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are sharply higher on Monday as news came late Sunday that New World Screwworm (NWS) had been detected 70 miles from the U.S. Mexican border. in an 8-month-old calf from a transported herd.
Shawn Hackett, Hackett Financial Advisors, says the soybean market fell on disappointment talks between President Trump and Chinese President Xi on Friday did not include soybeans, that also weighed on corn and wheat.