Markets Today
Naomi Blohm, Total Farm Marketing, says grains held technical support areas on Friday and saw corrective buying. She thinks the recovery can continue after Thanksgiving.
Scott Varilek, Kooima Koomia Varilek, says cattle try to recover after a lower day Thursday following lower cash and cutouts. Grains are also trying to recover with some corrective buying.
Randy Martinson, Martinson Ag, says the risk off commodity wide selling was tied to new highs for the year in the dollar index and renewed fears about tariffs and a trade war.
Vince Boddicker, Farmers Trading Company, says grain markets are trading lower for a 4th day as technical and risk off selling accelerates and a higher dollar adds pressure.
Shawn Hackett of Hackett Financial Advisors says the weakness in grains is coinciding with the strength in the dollar in what he calls the “Trump Effect”.
DuWayne Bosse of Bolt Marketing says pressure in grains is coming from a higher dollar, lower crude oil, Trump’s political appointments and weather.
Kent Beadle with Paradigm Futures says corn and soybeans are seeing technical selling after failing at chart resistance again on Monday.
Allison Thompson with The Money Farm says pressure in the grains came from a lack of news or fresh demand, farmer selling and bearish outside markets like lower crude oil and a higher dollar.
Brad Kooima of Kooima Kooima Varilek says cattle are consolidating and the live cattle charts look horrible after Friday’s poor technical action. Soybeans try to extend gains after a higher day Friday and USDA’s 1.4 bushel per acre yield cut.
Alan Brugler, A and N Economics says to keep corn and soybean prices moving higher the U.S. will need to see continued demand through the end of the year, which may be difficult with the fear of tariffs.