Corn
Scott Varilek, Kooima Kooima Varilek, says cattle are seeing a correction heading into the Cattle on Feed Report. Corn and soybeans are seeing hedge pressure and selling tied to extended forecasts showing rain in Brazil.
Mike Minor, Professional Ag Marketing, says corn and soybeans saw pressure from harvest and better South American weather prospects. Cattle and hogs soared on the heels of the higher stock market.
DuWayne Bosse, Bolt Marketing, says wheat is pulling down corn with a higher dollar and rains in the SW Plains, while soybeans hold gains on strong export demand. Cattle are rallying in sympathy with the stock market.
Darren Frye, Water Street Advisory, says the Fed cutting interest rates by 50 basis points could be huge for agricultural markets.
Darren Frye, Water Street Advisory, says the 50 basis point interest rate cut by the Fed was anticipated but is friendly for the ag markets.
Picket-fence corn stands with photocopied plants – uniform stalks and ears – deliver high yields. Where crops are uneven, farmers need to take that into consideration as they make final yield estimates.
Kent Beadle, Paradigm Futures, says November soybeans are finally above the 50 day moving average for a number of reasons, including more talk of China business.
Financial analyst says the next 48 days might be a good time to just ‘lay low and take a little off the table.’
Mark Schultz, Northstar Commodity, says wheat led the grain complex lower after better rain forecasts for U.S. and Black Sea production areas, but all the grain markets ran into chart resistance.
The effects are already visible, with declining French barley exports to China and the U.S. struggling to sell corn for the new season.