Markets Today
Brian Grete, Pro Farmer Editor, says soybeans roll over and make new lows for the move on China U.S. trade tensions, which weighed on corn.
Brad Kooima, Kooima Kooima Varilek, says cattle rally chasing record cash with the basis historically wide.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are chasing exploding cash early Friday, with more record high prices paid in all areas. Corn and soybeans continue to be weak with mostly favorable weather.
Kent Beadle of Paradigm Futures says, unlike the financial markets, the ag futures did not see the positive reaction to the ITC court ruling declaring the “Independence Day” tariffs as illegal.
Darin Newsom, Barchart, says the financial markets have reacted positively to the International Trade Commission’s court ruling against the Trump tariffs, declaring them unlawful. However, the ag markets are disregarding the news.
Matt Bennett with AgMarket.Net says corn and soybeans saw heavy technical or fund selling pressure on Wednesday, some of it in the grains was tied to weather.
Randy Martinson, Martinson Ag, says wheat is seeing some strength from lower crop conditions,.
Arlan Suderman, Chief Commodities Economist with StoneX, says corn and wheat saw pressure from weather, largely disregarding the positive news of EU tariff delays.
Brad Kooima of Kooima Kooima Varilek says cattle futures are seeing some early weakness despite last week’s record cash and neutral USDA Cattle on Feed Report compared to expectations. Corn is down with wheat and mostly favorable weather.
Darren Frye, Water Street Solutions, says the grain markets saw risk off selling tied to President Trump’s threat of 50% tariffs on the EU on June 1.