USDA Reports
DuWayne Bosse of Bolt Marketing says the grain markets have seen massive fund selling this week pushing corn to new contract lows but it has been spurred by a number of bearish factors.
Jon Scheve discuses how corn and bean prices have been below breakeven prices for the past year making it difficult for farmers to be profitable.
Jon Scheve discusses variables in the market for both corn and soybeans that could impact prices in the next few months.
Dave Chatterton of Strategic Farm Marketing says corn was slightly higher with tighter ending stocks, while soybeans fell on the rumor of lower RVO levels.
USDA lowered old crop corn ending stocks 50 million bushels, but Brian Splitt, AgMarket.Net, says the market doesn’t feel like it’s trading a 1.365 billion bushel carryout nor do the July/December spreads.
Jon Scheve discusses what is causing corn’s price decline over the last month and what to expect in the next few months.
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.
The bearish tone of the grain markets, especially corn and bean oil, stems from a lack of progress on tariffs and trade deals as well as speculation regarding the blending mandates for biomass-based diesel.
The newly released stocks-to-use ratios for corn and soybeans show we can expect the markets to be responsive to any threat to yields this summer.
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.