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Grains see spec selling and profit taking, with fast planting pace. Soybeans hit by bean oil at 2-year lows. Cattle pricing in steady cash, with funds buying in hogs on firmer cash. Kent Beadle, Paradigm Futures.
Cattle 2-sided with firm cash vs. risk off. Hogs see follow through technical buying. Risk off in grains, weather, planting pace cause profit taking. Brad Kooima of Kooima Kooima Varilek.
AgDay TV Markets Now: Arlan Suderman, StoneX says funds bought across the commodity sector Monday. In the grains #wheat was the price leader Monday, pulling #corn and #soybeans higher.
Funds buy in grains with concerns about wheat production and the Black Sea Grain deal. Cattle narrow the gap between cash and futures, while hogs sense a seasonal cash bottom. Arlan Suderman of StoneX has more.
Grains up as funds put in war premium. Wheat leads on crop concerns with Jul KC over $9. Livestock cattle are consolidating after the higher week, while the higher LHI helps hogs. DuWayne Bosse of Bolt Marketing.
Grains up putting in war premium w/the Black Sea Grain deal uncertain, but wheat is pricing in crop concerns. LC consolidate after a higher week, feeders and hogs strong. Randy Martinson, Martinson Ag. has details.
The WASDE report was bearish for corn with a 2.22 bb ending stocks estimate and beans at 335 mb. But bullish for wheat with the lower HRW crop. Jim McCormick of AgMarket.Net has price reaction.
Markets digest record corn and soybean production in the May WASDE. With abandoned acres, winter wheat is the bullish surprise.
AgDay TV Markets Now: John Heinberg with Total Farm Marketing explains the market reaction to the bullish wheat surprise and bearish corn and soybean numbers in the WASDE Report.
Winter wheat’s rally held up corn with ending stocks at a bearish 2.22 billion bushels. How low do soybeans go to price in a 335-million-bushel carryover? John Heinberg, Total Farm Marketing, shares his insights.