Corn
Craig Turner with StoneX says corn tries to hold early gains after bouncing off chart support Tuesday but may struggle with soybeans and wheat falling on tariff fears and liquidation ahead of first notice day.
The look at corn and soybean acreage under current conditions will be among the key focal points during the event, but it will also be key to see how USDA paints an export outlook with so much uncertainty surrounding tariffs and trade.
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Time is running out for USDA to issue economic relief payments to farmers in the 90-day window set by Congress. According to some sources, producers are banking on the payments, even making business decisions based on projected payment calculations.
Brad Kooima, Kooima Kooima Varilek, says grains are weak on more tariff talk. Cattle opened strong with the slightly friendly numbers in the Cattle on Feed Reported Report and a possible cash bottom forming.
EPA’s said its decision underscores its commitment to maintaining consumer access to E15 while ensuring a smooth transition for refiners and fuel suppliers. Administrator Zeldin highlighted ongoing efforts to collaborate with all stakeholders to maintain an affordable and stable fuel supply.
Jerry Gulke, president of the Gulke Group, thinks the corn market may just be taking a pause to refresh and he hasn’t changed his bullish stance. “I’m willing to have some patience,” he says.
Scott Varilek, Kooima Kooima Varilek, says corn and soybeans fell heading into the weekend on profit taking and technical selling, plus lower crude oil and a higher dollar.
About 45% of U.S. corn production acres and 36% of the soybean ground are dry. The western Corn Belt needs moisture, in particular. A big, wet snowstorm could help, says Eric Snodgrass.
Mark Schultz, Northstar Commodity, says corn and soybeans are lower on profit taking after a higher day yesterday.