Markets Today

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.

Scott Varilek, Kooima Kooima Varilek, says ag markets are seeing red with the threat of 50% tariffs on all EU imports.

Naomi Blohm, Total Farm Marketing, says grains markets end mixed with a lack of news and after hitting chart resistance.

Mike Minor, Professional Ag Marketing, says corn and wheat futures have had a nice rally off of extremely low price levels hit last week and oversold conditions. However, the markets hare running into chart resistance.

Mark Schultz, Northstar Commodity, says the rally in wheat has been driven by weather and money flow but wheat, corn and soybeans are running into chart resistance.

Kent Beadle, Paradigm Futures, says the grain rally is being supported by technical or fund buying, the U.S. lower dollar index and weather.

Bryan Doherty, Total Farm Marketing, says grains extended gains for a second day with wheat seeing the biggest gains. The rally in wheat has been driven by short covering and weather concerns.

Jon Scheve, Superior Feed Ingredients, says grain markets extended gains early Tuesday. He thinks the rally in grains may be more than just technical buying or a recovery rally.

DuWayne Bosse, Bolt Marketing, says most of the bounce in the grain markets was short covering or short profit taking.

Brad Kooima of Kooima Kooima Varilek, says cattle futures are in recovery mode for a second day after scoring key weekly reversals last week on the charts, a bearish sign of a possible top. Corn is also trying to bounce after new lows for the year in the December contract.