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.
Brad Kooima of Kooima Kooima Varilek says the cash cattle market put in a low last week and futures were sharply higher so the market just feels better. Soybeans and corn may have put in seasonal lows but he cautions further upside may be capped by harvest pressure.
Corn and wheat ended higher for a third week, while soybeans have put in four weeks of higher closes. Alan Brugler thinks wheat might be trying to forge a low, but it might be too early to make that call on corn and soybeans.
Scott Varilek with Kooima Kooima Varilek says early cash has been steady at $181 in the South helping to push cattle futures. Row crops are extending gains post WASDE, while wheat adds weather premium.
Leading into the report, surveys showed analysts expected USDA to decrease yields. Instead, the agency bumped the national corn yield by a half a bushel.
What started five years ago with Flex-Ro robot, is just starting to scratch the surface on what may be possible in space.
Dave Chatterton, Strategic Farm Marketing, says soybeans fell on a combination of factors including higher yield ideas in the USDA Report.
As you begin to rein in production costs, big ticket items such as fertilizer naturally get a lot of scrutiny. Now’s the time to think through how you’ll best allocate available dollars for nutrients.
Dave Chatterton, Strategic Farm Marketing, says soybeans saw profit taking with better than expected ratings, reigniting fears of higher yields in the September WASDE. Corn saw spillover from lower soybeans and crude oil.
Arlan Suderman, Chief Commodities Economist with StoneX, says record yields may already be priced into the market but USDA will need to verify that or corn and soybeans may retest the lows.
Arlan Suderman with StoneX talks about what he’s watching for in the WASDE and harvest results to determine if harvest lows have been forged in corn and soybeans.
Brad Kooima, Kooima Kooima Varilek, expects cash cattle and futures to recover this week if the stock market can stablilize. Soybeans rebound on China business and South American weather, but corn fails.
Garrett Toay, AgTraderTalk says grain markets scored reversals Friday on profit taking by fund traders after hitting key chart resistance. However, it was triggered by the bearish outside markets and caution ahead of the September WASDE Report.
Jerry Gulke, president of the Gulke Group, says new crop corn and soybean charts are signaling the September WASDE might be bearish and confirm the large crop size.
Garrett Toay, AgTraderTalk, says bearish outside markets spilled over to cause risk off selling in grain and livestock futures Friday, but grain markets says some profit taking and positioning ahead of the WASDE.
Darin Newsom with Barchart says grains have had a good run on fund short covering and will need some new bullish news to keep going and get above chart resistance.
Mike Zuzulo, Global Commodity Analytics, says corn and wheat saw some profit taking after a nice rally, while soybeans powered back on export business and South American weather.
The new numbers show that net farm income will fall $6.5 billion or 4.4%. This is compared to projections released in February suggesting it would fall 26%.
Mike Zuzulo, Global Commodity Analytics, says grains are seeing near term support from global weather concerns and improving demand. Livestock end in the red with a poor technical close in cattle on lower cash.
As the 2025 seed-buying process ramps up, the financial investment for conventional corn might look promising but you need to consider weed control, insect pressure and market opportunities .
Scott Varilek, Kooima Kooima Varilek, says cattle are reacting to early cash which was lower but he says he is still looking for steady money. Grains take a breather, but he thinks that rally will continue with better demand and South American concerns.