Corn
Randy Martinson with Martinson Ag says the wheat market is adding risk premium tied to weather and global production and geopolitical concerns and could continue to pull corn higher.
With one survey showing 48% of Midwest corn and soybean growers are unable to afford traditional fertilizer sources, Extension and industry are responding with nutrient options that can lend support.
Lane Akre, economist with Pro Farmer, says says the wheat market could take out the March highs and help pull corn higher. He thinks markets are trading global production concerns.
Record corn yields have risen 10x in 100 years. David Hula says continued genetic gains, along with a deeper understanding of what’s happening underground, could push yield potential far beyond what most farmers expect.
The grain and livestock futures saw commodity wide fund buying with a risk on tone to the market according to DuWayne Bosse with Bolt Marketing.
With cold, wet weather moving across parts of the Corn Belt, agronomists advise farmers to be ready to check high-yielding genetics for crown and stalk rot.
Brad Kooima with Kooima Kooima Varilek says some of the recovery is technical in nature as the June live cattle bounce off of key support and the 38% retracement level around $243.00 last Thursday. However, there are also fundamental reasons for bounce.
Darren Frye with Water Street Solutions says corn and wheat are trading weather and have divorced from the war headlines.
Operating on negative margins and facing a “next-generation crisis,” a group of row-crop growers urges the U.S. Supreme Court to follow science over emotion as it hears oral arguments in the Monsanto v. Durnell case on Monday.
Scott Varilek with Kooima Kooima Varilek says $243 was the line in the sand for the June live cattle or funds would liquidate and it held after Brooke Rollins canceled her trip to Arizona which alleviated fears of a border reopening.