China
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
Chip Nellinger, Blue Reef AgriMarketing says corn saw pressure from weather and lack of bullish news in the WASDE.
John Heinberg with Total Farm Marketing says fund selling eased on Tuesday as traders gear up for the WASDE on Thursday
Dave Chatterton with Strategic Farm Marketing says funds have sold and liquidated hard the last three weeks in the corn market and while they took their foot off the gas on Monday he doesn’t think the selling is done.
The May Farm Journal Ag Economists’ Monthly Monitor reveals growing concern over farm profitability, rising debt costs and long-term financial stress, with economists saying many operations may need significant restructuring to remain viable.
Mark Knight with Farmers Keeper Financial says the funds are exiting as the grains have divorced from the crude oil market and are trading weather.
Garrett Toay with AgTraderTalk says the grains fell despite the sharply higher crude oil market but why now?
Scott Varilek with Kooima Kooima Varilek says cattle had a lower week last week on fund liquidation and headlines regarding new NWS cases. However, he’s not sure if the funds are done selling yet.
Matt Bennett with AgMarket.Net says the broad based selling was tied to lower crude oil markets and headlines from President Trump that the Strait of Hormuz was going to reopened and the U.S. had struck a cease fire for the next 60-days.
A case of New World Screwworm (NWS) only 52 miles from Texas was reported by USDA on Thursday making it the closest detection to the U.S. to date. Brad Kooima with Kooima Kooima Varilek says that is pressuring cattle futures.