Jeff Hoogendoorn with Professional Ag Marketing says the grain markets were supported by strong demand and the lower dollar but also positioning ahead of the election, FOMC decision and WASDE.
Randy Martinson with Martinson Ag says grains and livestock markets are positioning ahead of the election, FOMC announcement and the WASDE on Friday.
Mark Schultz with Northstar Commodity says strong demand continues to support corn and soybeans but it hasn’t been enough to push prices above chart resistance.
Joe Kooima of Kooima Kooima Varilek says grains are seeing support from strong demand and more export business. Cattle consolidate with election uncertainty, while hogs rebound from early weakness in all but the December contract to make new highs.
The October Monthly Monitor reflects cautious optimism in certain areas of agriculture, marked by export strengths and potential price recoveries, but shadowed by long-term rebuilding challenges, weather dependencies and the impact of the upcoming election.
Scott Varilek with Kooima Kooima Varilek says corn and soybeans were supported by strong demand initially but ended off highs running into chart resistance and on election jitters. After another volatile day in cattle is the market topping?
Darin Newsom, Sr. Market Analyst with Barchart says some of the early support in the grain markets Friday morning is coming from strong export demand.
Mike Minor with Professional Ag Marketing says soybeans saw a nice short covering bounce on the heels of a rally in soybean oil and more flash export sales to China and unknown.
Mike Zuzulo, Global Commodity Analytics, says wheat led gains putting in risk premium on the low crop rating which triggers some short covering and corn followed.
Grain futures are seeing corrective buying, bouncing off technical support says Kent Beadle with Paradigm Futures.