Corn
Scott Varilek of Kooima Kooima Varilek says cattle have been resilient continuing to shake off any bad news and uncover buying on any break. Grains continue to chop ahead of the weekend.
Dave Chatterton, Strategic Farm Marketing, says corn was supported by strong demand with a 59 million bu. weekly export figure Thursday morning and unconfirmed talk that Brazil was buying U.S. corn.
Darin Newsom with Barchart says corn is higher again on solid demand and spreading with soybeans.
Kent Beadle with Paradigm Futures says all but old crop corn saw more pressure with the risk off attitude regarding tariffs and with acreage estimates being released. Meanwhile, weather propelled cattle to fresh highs.
Rich Nelson of Allendale says grains started lower and are quietly mixed awaiting tariff news and the big USDA reports at the end of the month. Allendale’s annual acreage survey confirms higher corn acres at the expense of soybeans.
Dan Basse, Ag Resource Company, says the February highs may be the highs for the year in corn and soybeans with the headwinds he sees ahead.
Everything from possible tariffs...to ongoing dryness are factoring into planting decisions right now in the Northwestern Corn Belt.
Mike Zuzulo, Global Commodity Analytics, says wheat led the price rally and pulled up corn as traders were putting in weather premium and funds covered short positions. Feeder cattle made all-time highs.
Many farmers keep a record of their planting intentions by field in a notebook or on a USB drive. Automation can make both of those practices obsolete and improve corn and soybean seed placement accuracy in the process, the companies report.
Joe Kooima of Kooima Kooima Varilek says cattle and hogs both saw gap higher openings and are seeing triple digit gains with help from the cash. Corn is higher following wheat, while soybeans lag.