Corn
Allison Thompson with The Money Farm says the failure was likely position squaring heading into the three day holiday plus markets ran into chart resistance and saw some profit taking.
Farm Journal’s June Ag Economists’ Monthly Monitor shows a weaker ag economy versus a year ago, but more than 80% expect consistent or better conditions over the next 12 months despite ongoing margin pressure.
Scott Varilek with Kooima Kooima Varilek says cattle futures were struggling early Thursday with lower cash as the packers are trying to break the market with their own inventory.
Luke Lindberg points to stronger export sales, reduced trade barriers and expanded opportunities in markets including Ghana, Australia and Vietnam.
Darren Frye with Water Street Solutions says the follow through buying was very important to show the higher close on Tuesday was not a head fake.
Jon Scheve with Scheve Grain says USDA punted on corn with the June Acreage Report and now farmers are in limbo until the August certified acres. So what should they do from a marketing standpoint?
Persistent rain is shifting nitrogen from a fine-tuning tactic to a rescue tool. Ken Ferrie shares how to manage N-deficient corn, the “last best” window for ROI and how to protect grain fill.
Arlan Suderman, chief commodities economist with StoneX, says the additional cut in winter wheat acres was a surprise but there were others as well.
Corn acres hold at 95.3 million — exceeding trade guesses — while USDA reports surprising June 1 corn stocks at 5.29 billion bushels. Get the full breakdown of USDA’s June Acreage and Stocks reports and expert analysis here.
Mike Zuzolo, Global Commodity Analytics, says grains were pressured by a host of factors including weather and fund liquidation.