Market Analysis
Joe Kooima with Kooima Kooima Varilek says the ability of the cattle market to divorce itself from the outside markets the last two sessions has been very impressive.
Soybeans futures extended nice gains from Wednesday with demand optimism surrounding the rescheduling of the China summit for May 14 -15 and the announcement of RVOs says Jim McCormick of AgMarket.Net.
Allison Thompson with The Money Farm thinks the grains markets are starting to divorce from the influence of war headlines and trade their own fundamentals.
Soybeans were slightly higher early but saw buying accelerate and the bull spreads kick in after the White House announced a new date for the China summit says Kevin Duling of KD Investors.
Jamie Gieseke with Paradigm Futures says the energy and grain markets are still chasing headlines trying to determine a fair prices. However, farmers need to ignore that noise when trying to make marketing decisions.
Mike Zuzolo with Global Commodity Analytics says corn and wheat followed the energy markets but also added weather premium. Soybeans were lower as China has eased its phytosanitary rules to take Brazil beans.
Corn futures were back higher on Tuesday morning following a recovery in the crude oil market says Vince Boddicker with Farmer Trading Company.
Brian Grete with CommStock Investments says corn and wheat fell with crude oil as the President announced a 5-day pause in the military strikes in Iran.
Cattle futures are higher early following the big rally in the equity markets says Scott Varilek with Kooima Kooima Varilek.
Darren Frye with Water Street Solutions says longer term if energy prices stay higher the funds could continue to buy grains on inflation fears but he’s not sure about a full super cycle without several factors falling into place.