Market Analysis
Mark Schultz, Northstar Commodity, says several factors combined to cause the commodity wide buying on Wednesday.
Chuck Shelby with Risk Management Commodities says grain markets continue to see profit taking after the recent relief rally pushed old crop corn, soybeans and wheat up into technical resistance on the charts.
Brian Grete, Pro Farmer, says grains see a healthy correction on profit taking after hitting resistance. Cattle continue to recover with the S&P but for how long?
In times of chaos, it’s best to go back to the basics of basis and price. Effective risk management has little room for mistakes, but that doesn’t mean it has to be perfect.
Brad Kooima, Kooima Kooima Varilek, says cattle are seeing followthrough buying and strength Monday morning as the S&P 500 continues to stabilize and recover after the tariff delays.
Jerry Gulke, president of the Gulke Group, says the April WASDE confirmed the tighter balance sheets he had been expecting for several reports but that’s just the start of the bullish news.
Bryan Doherty, Total Farm Marketing, says the way the markets shook off the escalating trade war with China was impressive but it will take several factors converging to keep the momentum going.
Mark Schultz, Northstar Commodity, says the ag markets have handled the escalation of the trade war with China remarkably well this week.
Chip Nellinger, Blue Reef Agri-Marketing, says corn and soybeans ended higher with lower ending stocks in the WASDE as corn fell below the 1.5 billion bu. mark.
Major changes weren’t anticipated for USDA’s April World Agricultural Supply and Demand Report, but there were still a few surprises — mostly for corn.