Market Analysis
Rich Nelson with Allendale says while he doesn’t agree with it, the corn market was seeing some weather premium added on concerns about planting delays which takes away the argument for record acreage.
Brian Grete with CommStock Investments says soybeans were higher Wednesday on optimism about the mid-May meeting with China and corn was following.
Mark Schultz with Northstar Commodity says the grains and energy sector started higher on war headlines but peaked out quickly by mid session acting like it wasn’t that concerned about the war.
Live cattle futures made new and all-time contract highs on Friday with the April contract closing above $250.
Don Roose with U.S. Commodities say soybeans followed meal and hold a premium on hopes of China business.
Scott Varilek with Kooima Kooima Varilek says the cattle market has been impressive and resilient.
Chip Nellinger with Blue Reef Agri-Marketing says, “USDA did rearrange some of the soybean demand estimates with crush raised 35 million bu. while exports were lowered the same amount.”
Ted Seifried with Zaner Ag Hedge says markets were removing war premium but the key is will the ceasefire stick and does the Strait of Hormuz get reopened?
Corn, wheat and crude oil were lower after a possible two week cease fire between the U.S. and Iran. says Randy Martinson with Martinson Ag.
The commodity wide selling pressure was tied to risk aversion and uncertainty regarding the escalation of the Iran War according to Mark Knight with Farmers Keeper Financial.