Hog Prices-Markets
Brian Grete, senior analyst with CommStock Investments says the soybean market has priced in most of the negative export news out of Argentina.
Arlan Suderman, chief commodities economist for StoneX, says soybeans did technical damage on hangover from the disappointing talks with China and Argentina’s announced export tax holiday.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are sharply higher on Monday as news came late Sunday that New World Screwworm (NWS) had been detected 70 miles from the U.S. Mexican border. in an 8-month-old calf from a transported herd.
Shawn Hackett, Hackett Financial Advisors, says the soybean market fell on disappointment talks between President Trump and Chinese President Xi on Friday did not include soybeans, that also weighed on corn and wheat.
Scott Varilek with Kooima Kooima Varilek says cattle futures have seen a choppy week but are higher to start Friday after some better than expected cash trade.
Alan Brugler with A&N Economics says the commodity markets saw some profit taking and risk off selling ahead of the FOMC announcement.
DuWayne Bosse of Bolt Marketing says corn tried to extend gains from Tuesday’s rally working in lower yield ideas.
However, it is failing at technical resistance around $4.30 on the December where farmer selling also picks up.
However, it is failing at technical resistance around $4.30 on the December where farmer selling also picks up.
Ted Seifried with Zaner Ag Hedge says after 10-cent gains on Friday the corn market saw some profit taking but also report hangover. The September WASDE was bearish for the corn market and traders had the weekend to finally let that soak in.
Joe Kooima of Kooima Kooima Varilek says live and feeder cattle futures are higher early Monday but after a second week of lower weekly closes, he’s not sure if the market can retest the highs.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures are higher again on Friday morning with the third day of recovery after Tuesday’s melt down. They need to close above Thursday’s highs to have a shot at retesting the record highs.
Garrett Toay with AgTraderTalk says while he thinks the corn and soybean crops are getting smaller he’s not sure if it will be reflected in the September WASDE.
Mike Minor of Professional Ag Marketing says last year USDA raised yield .5 bu. in the September report and left soybean yield unchanged, despite dry conditions to finish the crop.
Dave Chatterton with Strategic Farm Marketing says corn and soybeans saw a technical bounce and buying after holding chart support.
Brad Kooima, Kooima Kooima Varilek, says the uptrend line on the cattle charts is also starting to be violated but that isn’t the only thing he’s watching for a signal of a bigger correction.
Kent Beadle with Paradigm Futures says corn futures ended lower on Friday on profit taking and were down nearly 2-cents for the week. However, December still held the 50-day moving average.
Jim McCormick with AgMarket.Net says corn saw some profit taking after hitting chart resistance as the December contract neared $4.25, which coincided with the 38% retracement level.
Rich Nelson, Chief Strategist with Allendale, Inc. says corn was lower Wednesday, seeing some profit taking after getting overbought but the rest of the grain and livestock complex were also lower.
Mike Zuzolo, Global Commodity Analytics, says soybeans saw risk off selling as China aligned itself with Russia and India, which signals no deal between the U.S. and China any time soon.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are back into new contract and all-time highs after showing considerable resilience last week and despite a selloff in the equities. Grains sell off on tariff concerns.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures saw end of month profit taking on Thursday and some follow through selling to start Friday.
Don Roose, U.S. Commodities, says grain futures all ended slightly higher Thursday with end of month positioning and profit taking.
DuWayne Bosse with Bolt Marketing says the grain markets saw selling pressure from a stronger dollar and some liquidation ahead of first notice day on Friday and on end of the month liquidation.
Oliver Sloup of Blue Line Futures says corn has consolidated the last two sessions after hitting chart resistance at $4.17 and may wait for combine results before taking out that level.
Vince Boddicker with Farmers Trading Company says soybeans sank on profit taking and could see further liquidation going into first notice day and end of the month.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures gapped lower on the opening after a human case of New World screwworm (NWS) was announced over the weekend.
Scott Varilek, Kooima Kooima Varilek, says cattle fundamentals look supportive through fourth quarter, while corn and soybeans are running into chart resistance.
Mark Schultz, Northstar Commodity, says corn December corn closed above the $4 level on Friday and was nearly steady for the week.
Mike Minor with Professional Ag Marketing says he’s been impressed with how well the corn market has digested Tuesday’s bearish yield and production news.
Chuck Shelby, Risk Management Commodities, says soybeans were higher still digesting the positive news from the WASDE report and pulled corn higher. While he thinks this is bottoming action in the soybeans but what about corn?
Kent Beadle with Paradigm Futures says corn is following the soybean market early Wednesday after USDA shocked the market with a record 188.8 bu. yield and 2 million more harvested acres. So did the report bottom the markets?