Corn
2025 has been a record setting planting season for Mike Madsen and many farmers in Southern Minnesota.
John Heinberg, Total Farm Marketing, says soybeans saw profit taking pressure early Tuesday but clawed back to close slightly higher with the help of the soybean oil market. However, corn continues to fail.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says soybeans are seeing some profit taking after the rally Monday and after running into chart resistance in the July contract around $10.75 Monday night.
Chip Nellinger, co-owner of Blue Reef Agri-Marketing, says soybeans soared on the combination of positive China trade news and the bullish May WASDE.
At least on the surface, USDA’s estimates for both old and new crop corn and soybean ending stocks were below average trade guesses. However, Jim McCormick, AgMarket.Net, says there is some skepticism due to tariff considerations.
The markets have several big headlines they’re digesting including news over the weekend that China and the U.S. are de-escalating the tariff war.
The deal decreases U.K.’s ethanol tariff from 19% to 0%, creates an opportunity for cattle ranchers to export millions more and opens a $100 million market with free access for rice farmers, says Brooke Rollins, Secretary of Agriculture.
Scott Varilek, Kooima Kooima Varilek, says cattle continue to hit all-time highs in cash and futures. While corn is seeing some short covering after new lows for the move on Thursday.
May futures are in the process of printing a monthly key reversal. Ironically, this is just what it did five years ago in August 2020. Coincidence you might think?
Randy Martinson, Martinson Ag, says corn made new lows for the move in tandem with wheat and faded strong export sales and the U.K. trade deal.