Corn
To keep expenses in check, high-yield growers are rethinking everything from fertilizer use and planter prep to pest programs and how they manage field borders.
Jamie Gieseke with Paradigm Futures says soybeans were also getting a push from South American weather, with wheat adding risk premium on U.S. weather concerns.
During his trip to Clive, Iowa, Trump reaffirms support for year-round E15, backing corn growers and ethanol, while announcing John Deere’s expansion of two new domestic production and distribution facilities.
Soybeans and soybean oil saw a higher day on Tuesday driven by hopes President Trump would make a biofuels policy announcement regarding 45Z or the RVO proposal while speaking in Iowa after the market close says Naomi Blohm with Total Farm Marketing.
Soybeans and bean oil were slightly higher on Tuesday morning with hopes President Trump may make an announcement or at least talk positive about the 45Z program according to Mark Schultz with Northstar Commodity.
Sam Hudson with Corn Belt Marketing says the grain markets all hit technical resistance on the charts and may have seen profit taking.
Brad Kooima with Kooima Kooima Varilek says he was concerned the trade might view a slightly bearish Cattle on Feed report placement number as a reason to sell but the market was more focused on the higher cash trade Friday.
Pro Farmer economist Lane Akre says at the current corn to soybean price ratio and with market conditions, soybeans need to buy some additional acres.
Many will attribute last week’s corn market rally to the cold weather and slowing grain movement from truck to barge. However, Jerry Gulke says the corn market has technically looked good for a while.
Grain markets closed strong on Friday and posted higher weekly closes across the complex. What drove the rally? Jim McCormick of AgMarket.Net points to a few notable factors.