Markets - General
If tariffs prove inefficient, a positive EPA result — or even an executive order — will do.
Soybean conditions improve more than expected to 5-year best 70% Good-to-Excellent. Corn conditions slide 1% in line with traders’ expectations.
Grain markets are following the recent trend of a lower Monday trade, while cattle futures scream higher following bullish reports on Friday afternoon.
Grain markets were able to firm ahead of the weekend, but benign weather over the weekend has brought back price pressure to start the week.
Jerry Gulke, president of the Gulke Group, says corn made a bullish weekly reversal and that technical action could signal a bottom in the market.
Commodity markets were choppy on Thursday with a mixed finish in grains and a sluggish day in cattle. However, there were two commodities that caught our eye and could provide some opportunity to round out the week.
Grain markets have been mixed to start the week with corn futures trying to end the streak of 7 straight Mondays with a lower close.
Jerry Gulke, president of the Gulke Group, says grains posted lower weekly closes as the markets were pressured by ideal weather and ideas of higher yields.
Corn markets faded lower old and new crop ending stocks from USDA in the July WASDE.
Corn got the friendly report that many were hoping to see, however the market shrugged it off and made new contract lows. Weather continues to limit upside movement as conditions remain mostly favorable