Market Analysis
Dan Basse, president of Ag Resource Company, says these tariffs are different than those imposed during the first Trump administration or even recently with the 10% increase on China imports.
Based on decades of experience, Jerry Gulke, president of the Gulke Group, is bracing for a big surprise in USDA’s Prospective Plantings Report on March 31.
Scott Varilek of Kooima Kooima Varilek says cattle have been resilient continuing to shake off any bad news and uncover buying on any break. Grains continue to chop ahead of the weekend.
Dave Chatterton, Strategic Farm Marketing, says corn was supported by strong demand with a 59 million bu. weekly export figure Thursday morning and unconfirmed talk that Brazil was buying U.S. corn.
Darin Newsom with Barchart says corn is higher again on solid demand and spreading with soybeans.
Kent Beadle with Paradigm Futures says all but old crop corn saw more pressure with the risk off attitude regarding tariffs and with acreage estimates being released. Meanwhile, weather propelled cattle to fresh highs.
Rich Nelson of Allendale says grains started lower and are quietly mixed awaiting tariff news and the big USDA reports at the end of the month. Allendale’s annual acreage survey confirms higher corn acres at the expense of soybeans.
Dan Basse, Ag Resource Company, says the February highs may be the highs for the year in corn and soybeans with the headwinds he sees ahead.
Mike Zuzulo, Global Commodity Analytics, says wheat led the price rally and pulled up corn as traders were putting in weather premium and funds covered short positions. Feeder cattle made all-time highs.
Joe Kooima of Kooima Kooima Varilek says cattle and hogs both saw gap higher openings and are seeing triple digit gains with help from the cash. Corn is higher following wheat, while soybeans lag.