USDA Reports
Jon Scheve discusses how he made additional profit the past three months when the market didn’t move much.
Jon Scheve discusses the recent USDA report and how it will impact bean prices.
Brad Kooima, Kooima Kooima Varilek says cattle futures are mostly higher early Monday on better cash news and trying to negate Friday’s reversal. Grains are seeing pressure from harvest and South American rain chances.
Jon Scheve discusses the latest USDA report and how likely corn is to rally given current yield estimates.
The October WASDE effectively solidified the supply side of the U.S. corn and soybean balance sheets for the 2024-25 marketing year, though Gulke was surprised USDA didn’t raise yields because harvest has never been so good on his farm.
Unlike some past years, the October report didn’t provide much for the bulls or the bears. USDA did raise corn yield 0.2 bu. per acre to a record 183.8 bu. and lowered soybean yield 0.1 bu. per acre to 53.1 bu.
Oliver Sloup, Blue Line Futures says after a non eventful WASDE, grains saw some profit taking heading into the weekend with row crops seeing harvest pressure.
Scott Varilek, Kooima Kooima Varilek, says cattle futures need to take out the next layer of chart resistance to move higher. Grains continue to add war and weather premium and that shouldn’t change unless the WASDE is extremely bearish.
John Heinberg with Total Farm Marketing says the row crop markets are seeing continued pressure from three main fundamentals.
Brian Grete, Pro Farmer, says wheat was supported by light fund short covering as traders were adding in some geopolitical risk premium.