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Chuck Shelby, Risk Management Commodities, says grain and livestock were mostly lower Tuesday as funds sold with the uncertainty surrounding the HPAI cases in dairy herds as well as the Baltimore port closure.
A mostly lower day Tuesday in grain and livestock futures. Chuck Shelby, Risk Management Commodities, says uncertainty hit the market on many fronts.
Grains are mostly lower on report positioning, while Brad Kooima, Kooima Kooima Varilek, says cattle make near term lows working in the Cattle on Feed Report and HPAI news.
A mixed close in both grain and livestock futures. John Payne, Hedge Point Global Markets, says there was positioning end of month and quarter, plus heading into reports.
John Payne, Hedge Point Global Markets, says, “The intension for the farmers here isn’t always coming through with the USDA realities and I think they’re going to show corn acres closer to 92 to 93 million.”
Grains gear up for end of quarter and USDA reports, while cattle react to the bearish placements in Friday’s USDA data. Kent Beadle, Paradigm Futures, has more.
Oliver Sloup, Blue Line Futures, says the USDA Ag Outlook Forum set the benchmark showing a nearly 4 million acre increase in soybeans and 3.6 million acre decrease in corn. So that is already priced into the markets.
Markets closed mixed Friday, evidence of end quarter profit taking by the funds says Oliver Sloup, Blue Line Futures. He thinks they may continue that action ahead of reports and an uncertain growing season.
Grains fall on weather, but what else is behind it? Does the reversal in cattle mean anything? And will gold & the DOW continue to make new highs & what does it mean for ag markets? Darin Newsom, Barchart, has more.
Grains end higher with livestock mostly lower. Brad Kooima, Kooima Kooima Varilek, says markets are seeing end of month and report squaring.