Markets Today

Shawn Hackett, Hackett Financial Advisors, says grain and cotton markets all ended lower on Friday and for the week. He provides several reasons he thinks the market participants are too bearish compared to the fundamentals.

Scott Varilek, Kooima Kooima Varilek, says after two ugly down days in cattle futures the markets are trying to recover and so is the soybean market.

Jeff Hoogendoorn, Professional Ag Marketing, says the sell off in bean oil was tied to unconfirmed rumors the draft proposal on the Renewable Volume Obligations (RVO) for bio-mass based diesel were sent to the Office of Management and Budget (OMB) with lower than expected volumes.

Soybeans are down with soybean oil which touched limit down overnight on unconfirmed rumors EPA would setting RVO levels for biomass based diesel below anticipated levels.

Ted Seifried, Zaner Ag Hedge, says soybeans have been seeing continued strength off the bullish WASDE numbers allowing it to clear some technical objectives. But the market needs other fundamental factors to come together to clear $11.

Vince Boddicker, Farmers Trading Company, thinks more constructive developments on trade with China are part of the equation but so is the push from soybean oil.

John Heinberg, Total Farm Marketing, says soybeans saw profit taking pressure early Tuesday but clawed back to close slightly higher with the help of the soybean oil market. However, corn continues to fail.

Tomm Pfitzenmaier, Summit Commodity Brokerage, says soybeans are seeing some profit taking after the rally Monday and after running into chart resistance in the July contract around $10.75 Monday night.

Chip Nellinger, co-owner of Blue Reef Agri-Marketing, says soybeans soared on the combination of positive China trade news and the bullish May WASDE.

The markets have several big headlines they’re digesting including news over the weekend that China and the U.S. are de-escalating the tariff war.