China
DuWayne Bosse with Bolt Marketing says funds are buying and covering short positions due to expanded drought in hard red winter wheat country on Thursday’s U.S. Drought Monitor and the lower crop conditions.
Brian Grete with CommStock Investments says soybeans were higher Wednesday on optimism about the mid-May meeting with China and corn was following.
According to Tommy Grisafi of Nesvick Trading money flow the last two sessions in the outside markets had a huge impact on ag markets.
Jon Scheve with Scheve Grain thinks the grain markets have transitioned over to trading more of its own fundamentals.
Don Roose with U.S. Commodities say soybeans followed meal and hold a premium on hopes of China business.
Scott Varilek with Kooima Kooima Varilek says the cattle market has been impressive and resilient.
Jerry Gulke president of the Gulke Group says when a market reacts negatively to positive news that’s not a good sign.
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.
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.