Markets Today
Grains continue lower with profit taking and hedge selling with better rain chances. Cattle recovering with lower corn but positioning ahead of the Cattle on Feed Report. Kevin Duling of KD Investors has more.
Corn and beans saw profit taking on extended rain forecasts, while wheat ended mixed. Cattle bounced with the lower corn and on the long side of spreads with hogs. Ted Seifried, Zaner Ag Hedge.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says grains rallied on weather and the drop in crop ratings and subsoil moisture. The markets pushed through chart resistance and could see continued buying.
Grains rally on weather, drop in ratings, subsoil moisture, fund buying. How much upside is left? Cattle consolidate w/ corn up. Profit taking in hogs w/higher meal. Tomm Pfitzenmaier, Summit Commodity Brokerage.
Grains put in weather premium, with the drop in crop ratings and fund buying. Cattle continue to consolidate with higher corn, lower cash. Hogs see profit taking. Vince Boddicker, Farmers Trading.
Grains gap higher on drop in crop ratings, fund buying, only BO is lower on the EPA RFS proposal. Cattle consolidate with higher corn, lower cash, cutouts. Hogs see profit taking. Kent Beadle, Paradigm Futures.
AgDay TV Markets Now: DuWayne Bosse of Bolt Marketing says corn and soybeans ended slightly higher but off highs with profit taking and hedge selling. But will retest those areas with lower crop ratings.
Corn and beans end steady to higher trading weather but see profit taking. Wheat mixed on spreading. Cattle consolidated breaking chart support, while hogs rally pushed by cash. DuWayne Bosse, Bolt Marketing.
Grains see light selling with a slight improvement in weather, profit taking and hedge selling after breaking resistance. Cattle consolidate, hogs gap higher pushed by cash. Randy Martinson, Martinson Ag has details.
Cattle lower on consolidation awaiting cash, hogs gap higher w/strong cash. New crop corn and beans see some profit taking, hedge pressure with a little bit better weather. Brad Kooima, Kooima Kooima Varilek.