Markets Today
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.
USDA provides a bullish surprise on corn and soybean yields and ending stocks but little change on wheat. Jim McCormick, AgMarket.Net breaks down the report.
Scott Varilek with Kooima Kooima Varilek says grains are mixed ahead of the WASDE and despite more flash export sales. Cattle futures are under pressure with Choice boxes down over $6 and light cash at $188, also down from last week.
Mark Knight with Farmer’s Keeper Financial says grains open mixed digesting strong weekly exports and positioning ahead of the FOMC announcement and WASDE.
Darren Frye, Water Street Solutions, says it was an impressive that grains, especially the soybean complex, shook off the election results, possible tariff hikes and a sharply higher dollar.
Kevin Duling with KD Investors says grains started off lower with soybeans seeing double digit gains on the possibility of increased tariffs and a trade war with China, then bounced off the lows.
Jeff Hoogendoorn with Professional Ag Marketing says the grain markets were supported by strong demand and the lower dollar but also positioning ahead of the election, FOMC decision and WASDE.
Randy Martinson with Martinson Ag says grains and livestock markets are positioning ahead of the election, FOMC announcement and the WASDE on Friday.