Markets Today
Grains mostly lower except corn, with short covering after holding last week’s lows as markets for the WASDE Report. Cattle and hogs see profit taking w/bearish outside markets. Mike Minor, Professional Ag Marketing.
Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Live cattle mixed awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag.
Wheat under pressure as inspections resume in the Black Sea and some rain chances in HRW areas. Corn and soybeans bounced off support with no China cancellations, WASDE positioning. Nick Tsiolis, Farmer’s Keeper.
AgDay TV Markets Now: Garrett Toay of AgTraderTalk says corn and beans see fund selling with fast planting, China cancellation and positioning for WASDE. However, he thinks markets may be too bearish.
Grains mostly lower except hard wheat classes w/technical selling on China cancellations, fast planting, WASDE positioning. Cattle saw short covering on better cash ideas, w/hogs also up. Garrett Toay, AgTraderTalk.
Grains lower on fast planting, China corn cancellations, WASDE positioning, risk off outside markets. Live cattle mixed awaiting cash, while hogs are consolidating. DuWayne Bosse, Bolt Marketing has details.
Live cattle 2-sided but Brad Kooima, Kooima Kooima Varilek says cash could be steady/higher. Hogs mixed but struggle with big supplies. Grains lower on fast planting, wx, WASDE, China cancels 10.7 mb corn.
AgDay TV Markets Now: Pro Farmer’s Brian Grete Says Grains End Mostly Lower on Weather, WASDE, Money Flow and Black Sea Grain Deal Uncertainty.
Grains end mostly lower except hard red wheats on weather, WASDE positioning and money flow. Cattle bounce with help from futures discount to cash, while hogs wait for cash to catch up. Brian Grete, Pro Farmer.
Wheat tries to hold early gains, with the rest of the grains fading ahead of crop progress and the May WASDE. Cattle rebound but await cash, hogs try to consolidate after an ugly week. Kent Beadle, Paradigm Futures.