Corn
Brian Grete with Commstock Investments says grain markets posted higher closes for the month with funds pouring massive amounts of money into the complex. Are they done buying yet is the question in a new month.
The agency’s approved Small Refinery Exemptions totaling 1.76 billion RINs, but offset that by proposing to reallocate 770 million RINs for 2026 and 2027.
Analysts Dan Basse and Chip Nellinger say $6 corn is looking likely this year. While there’s always risk as the funds post such a long position, there is another factor that could push prices past $6, and that’s tied to El Niño.
Environmental factors are behind this year’s crown rot surge. The disease is appearing in hybrids that agronomists say are rarely prone to having the problem.
Cattle futures were trying to bounce early Monday as both live and feeder cattle are oversold after lower weekly closes says Brad Kooima with Kooima Kooima Varilek. However, he was cautious about it holding.
Jerry Gulke, president of the Gulke Group, has been fielding questions from farmers wanting to know how long the explosive rally could last and how high prices could run?
Don Roose with U.S. Commodities says the grains have seen rotating leadership but the bull market is currently being led by wheat and will needs continue Black Sea headlines to keep moving higher.
Scott Varilek with Kooima Kooima Varilek says after a bounce on Thursday many producers were asking if a bottom was starting to be forged but the negative stories won’t die down.
Shawn Hackett with Hackett Financial Advisors says he sees higher prices ahead for the grain markets.
Darin Newsom, senior market analyst with Barchart, says it is not unexpected to see a little profit taking moving into the end of the month. However, he thinks any breaks will be bought by the trend following funds.