Corn
Brad Kooima, Kooima Kooima Varilek says cattle futures are mostly higher early Monday on better cash news and trying to negate Friday’s reversal. Grains are seeing pressure from harvest and South American rain chances.
The October WASDE effectively solidified the supply side of the U.S. corn and soybean balance sheets for the 2024-25 marketing year, though Gulke was surprised USDA didn’t raise yields because harvest has never been so good on his farm.
Unlike some past years, the October report didn’t provide much for the bulls or the bears. USDA did raise corn yield 0.2 bu. per acre to a record 183.8 bu. and lowered soybean yield 0.1 bu. per acre to 53.1 bu.
Oliver Sloup, Blue Line Futures says after a non eventful WASDE, grains saw some profit taking heading into the weekend with row crops seeing harvest pressure.
Scott Varilek, Kooima Kooima Varilek, says cattle futures need to take out the next layer of chart resistance to move higher. Grains continue to add war and weather premium and that shouldn’t change unless the WASDE is extremely bearish.
John Heinberg with Total Farm Marketing says the row crop markets are seeing continued pressure from three main fundamentals.
Darin Newsom with Barchart says wheat is higher adding war premium but soybeans and corn are seeing harvest pressure and trading South American weather.
All substance and no flash might best describe the fertilizer strategy Wisconsin farmer Clark Riemer is banking on to fuel his 2025 corn crop.
Take a tour through ISU’s Kent Feed Mill and Grain Science Complex, and you’ll encounter state-of-the-art technology advancing the feed industry.
Brian Grete, Pro Farmer, says wheat was supported by light fund short covering as traders were adding in some geopolitical risk premium.
The disconnect between what makes equipment more expensive (labor, steel, energy, computer chips, etc.) and what drives farm income (commodity prices) will continue to drive the machinery costs versus value discussion.
Brad Kooima, Kooima Kooima Varilek, says the cash cattle trade will likely be steady this week which may mean the futures could stall out. He thinks the party could be over in row crops.
Jerry Gulke, president of The Gulke Group, thinks the party is over in the grains, at least for now, due to several key factors.
DuWayne Bosse, Bolt Marketing, says grains saw profit taking after running up into some chart resistance.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are well supported on higher cash. Grains seeing pressure as funds may be out of ammunition.
Ted Seifried, Zaner Ag Hedge, says funds have covered most of their record short position in grains and they are not likely to go long.
Take a controlled, calibrated approach to the process, advises Ken Ferrie. That will help you build a framework for high yields next season and protect soil nutrient levels in the process.
Mitchell Hora of Continuum Ag joins the Top Producer podcast to share why he believes taking advantage of these credits will be the biggest opportunity in agriculture.
Randy Martinson, Martinson Ag, says funds continue to cover shorts in the grain markets but there are some fundamentals also helping to support the rally.
Kent Beadle, Paradigm Futures says corn continues to move higher on fund buying and tighter corn stocks from USDA’s Quarterly Stocks Report. He thinks corn could eventually take out resistance on the charts and move higher.
Fred Below, University of Illinois professor of crop physiology, says short-stature corn could provide growers a leg up in extreme weather conditions.
Naomi Blohm, Total Farm Marketing, says corn and soybeans have rallied into chart resistance and will need three main fundamental factors to combine to keep prices moving higher.
Vince Boddicker with Farmers Trading Company says soybeans continue to see Brazil weather concerns and technical buying. When soybeans put in an early harvest low they tend to rally around 80 cents and have cleared that mark already. However, if Brazil stays dry the market could continue to price that in.
Scott Varilek, Kooima Kooima Varilek, says cattle futures reversed with $2 higher cash in Southern feedlot areas. Grain markets ended lower as fund short covering was overrun by an increase in farmer selling.
The Farmer First Fuel Incentives Act has been introduced in both the Senate and the House. A bipartisan group of lawmakers has proposed extending the 45Z tax credit through 2034.
Grains started out mostly lower Wednesday but Darin Newsom with Barchart says they continue to see buying on the dips as funds are covering shorts and taking profits.
Kevin Duling, KD Investors, says it wasn’t the best close for the grains as the markets ran up into some chart resistance and are starting to look a little tired.
Allison Thompson with The Money Farm says a combination of factors drove soybeans higher including South American weather and China economic news. Corn and wheat followed. Cattle futures also made new highs for the move pushed by cash.
Brad Kooima of Kooima Kooima Varilek says cattle are hitting new highs for the move after a chart breakout and pushed by stronger cash last week. Grains are all strong early with soybeans making near term highs on the convergence of several fundamentals.
While bulk grain exports would be largely unaffected, the strike would impact containerized agricultural exports: Soybeans, soybean meal, and other agricultural products exported via containers would be affected.