Corn

Jamie Gieseke with Paradigm Futures says the weakness in the grain markets last week and to start this week was tied to liquidation and pricing of basis fixed contracts against December futures before the delivery period starts. Once that’s out of the way what is the next move?

Because every growing season is unique, agronomists are encouraging corn growers to make a management plan for the “driver diseases” they’re most likely to encounter in fields next year.

Dave Chatterton with Strategic Farm Marketing says the soybean market is tired of rhetoric and wants to see results in the form of sales to China.

Brad Kooima with Kooima Kooima Varilek says cattle were limit down early Monday on news that Tyson Foods will be closing its Lexington, Neb. beef processing plant on Jan. 20 and the Amarillo, Texas plant will go down to one shift.

Gulke says after a reversal, he’s watching short-term technical indicators to determine if the corn market is going to continue to go lower.“

Chip Nellinger with Blue Reef Agri-Marketing says the soybean market has corrected its overbought status with the profit taking by the funds so the selling pressure may be over.

Susan Olson, of Action Intel, analyzes barge movement and logistics and says the past few weeks show a divergence in how grain is getting to export markets.

Scott Varilek with Kooima Kooima Varilek says the market had been anticipating the tariffs to be lowered on Brazil beef for several days and it was part of the recent selloff in cattle. “So I think a lot of this was already penciled into prices.” he explains.

Jim McCormick with AgMarket.Net says soybeans continue to sell off though as this business has already been priced into the market with the nearly $1.50 rally off the lows.

Grains futures saw sharp losses on Wednesday on profit taking according to Rich Nelson with Allendale, Inc. However, there were several other factors at play.