Markets - General
Don Roose, U.S. Commodities, says grain markets are trading weather and have had some chart breakouts. That could keep funds buying but only if weather continues to be bullish.
Corn, soybean and soybean meal futures posted higher weekly closes, but it’s hard to predict how far the grain markets could rally, says Jerry Gulke. “Now it becomes more of an art than a science,” he adds.
Grains ended higher on Friday with chart breakouts on weather and crop concerns, plus fund short covering. Cattle mixed, hogs. lower.
Grain markets have been rallying this week on weather and crop concerns and it’s not just wheat. Eric Snodgrass, Senior Science Fellow, Nutrien Ag Solutions, talks about Northern and Southern Hemisphere weather.
Grains continue higher with weather concerns in the U.S. and SA, a lower dollar and funds are covering shorts with the stronger technical action says Darin Newsom with Barchart. Will the funds eventually buy grains?
EPA’s new model is designed to address previously identified shortfalls in the R&D GREET model and how it calculated lifecycle greenhouse gas emissions. The new approach accounts for all emissions from farm to fuel.
John Payne, Advance Trading, says soybeans and soybean meal led the grain rally Thursday on short covering and adding weather premium with heavy rains and flooding in southern Brazil and parts of Argentina.
Grain futures prices had an impressive trading session on Thursdays, setting the stage for a potential breakout.
John Payne, Advance Trading says grains rally on fund short covering and weather, with a higher day in cattle and lower close in cotton....again.
Wheat was in the spotlight last week but corn and soybeans took center stage in today’s grain trade. Are these markets poised for a bigger rally?