Corn
Alan Brugler, A&N Economics, says soybeans sank on demand concerns with large global supplies and China continuing to buy from South America. November soybeans fell below $10 and project even lower.
Matt Bennett, AgMarket.Net, says it was an ugly day in the grain markets with old crop corn making new contract lows once again with spillover pressure from wheat and a higher dollar.
Mike Steenhoek, executive director of the Soy Transportation Coalition, says if approved the merger could change the shipping landscape with both winners and losers.
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Garrett Toay, AgTraderTalk, says corn and soybeans continued to push back towards recent lows on weather as areas of the Corn Belt saw rain over the weekend and the heat is starting to ease.
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The industry investigates the agronomic issue finding it can be attributed to many factors including environment, genetics and rapid growth stages.
Joe Kooima of Kooima Kooima Varilek says both live and feeder cattle futures gapped higher into all-time and contract highs again on Monday morning on the heels of the bullish USDA Cattle on Feed and Cattle Inventory Reports. Grains opened lower as weather is trumping export and trade news.
Despite USDA’s strong corn condition ratings, more agronomists and farmers are reporting pollination problems from what’s being called ‘overly tight tassel wrap,’ an issue that can’t be seen until you walk into your fields.
Scott Varilek with Kooima Kooima Varilek says both live and feeder cattle futures had a nice recovery and got within striking distance of the all-time highs set earlier in the week.