Corn
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
U.S. farmers and ag economists remain concerned by mounting global competition and the reliability of recent trade agreements. However, some economists say emerging market shifts could create opportunities later this year.
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?
Scottsbluff farmers face drought, low snowpack and delayed irrigation. Many are returning seed or having to pre-irrigate to get crops planted.
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.
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Jerry Gulke, president of the Gulke Group, says the lower monthly close is especially significant because corn also failed to close above the April high.