Markets - General
Jon Scheve discusses historical trends to see how likely a corn rally really is.
The Ag Economists’ Monthly Monitor is a gauge of economists’ views on the ag economy. While outlooks have grown weaker, it’s the erosion in the future outlook that is sprouting fresh concerns.
While the expectation is for cotton acres to increase in the June acreage report, another key question is if cotton demand can continue to find footing and support higher prices.
Grains were mixed Friday, but cattle futures tanked again on HPAI fears and Tommy Grisafi, Advance Trading, says to expect more of the same next week.
Tommy Grisafi, Advance Trading, says grains trade quiet and rangebound ahead of planting season, with one eye on weather. Cattle saw huge market losses for the week, and he thinks that volatility may continue.
Markets get overextended and need to equalize, says Jerry Gulke, president of The Gulke Group. “The stock market got too high and is correcting, and grains got too low and might be in the same process,” he explains.
Grains are mostly higher early and Darin Newsom with Barchart, chalks it up to fund short covering. The dollar rallies with interest rate concerns tied to non-farm payroll data, while cattle see more fund selling.
Jeff Hoogendoorn, Professional Ag Marketing, says corn may trade range bound until more is known about the weather for the 2024 planting season, but with only 90 million acres planted it will be sensitive to any issues.
Grains lean higher except soybeans with an up day in cattle and hogs. Jeff Hoogendoorn, Professional Ag Marketing, has analysis.
Scott Varilek, Kooima Kooima Varilek, says cattle try to bounce early but rallies are hard to sustain as new HPAI headlines circulate. Hogs consolidate, while grains chop looking for direction.