Hog Prices-Markets
John Heinberg with Total Farm Marketing says soybeans made fresh highs early Monday on strong crush and China export hopes ramping up to the mid-May meeting.
Jim McCormick of AgMarket.Net says a new month brought in new money to the grain complex on inflationary concerns. How much higher could it go?
Scott Varilek of Kooima Kooima Varilek says tight supplies and a record cash market have supported the move to new highs. How high can live and feeder cattle futures run?
Dave Chatterton with Strategic Farm Marketing says the grain markets were supported by money flow and funds were buying adding risk premium tied to war, inflation fears with soaring energy prices and weather.
The grain and livestock futures saw commodity wide fund buying with a risk on tone to the market according to DuWayne Bosse with Bolt Marketing.
Brad Kooima with Kooima Kooima Varilek says some of the recovery is technical in nature as the June live cattle bounce off of key support and the 38% retracement level around $243.00 last Thursday. However, there are also fundamental reasons for bounce.
Scott Varilek with Kooima Kooima Varilek says $243 was the line in the sand for the June live cattle or funds would liquidate and it held after Brooke Rollins canceled her trip to Arizona which alleviated fears of a border reopening.
The soybean market looked like it was ready to breakout but Sam Hudson with Cornbelt Marketing says they hit chart resistance and saw profit taking.
Soybeans and multi-year highs in the soybean oil market led the grain complex higher on Tuesday according to Mike Minor with Professional Ag Marketing.
Alan Brugler with A&N Economics says corn got some support from higher crude oil and soft red winter wheat plus other demand fundamentals.