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Chip Nellinger with Blue Reef Agri-Marketing says grains saw profit taking heading into a long weekend, which is not unexpected. However, he thinks the market has more work to do.
Scott Varilek with Kooima Kooima Varilek says the cattle market is very oversold and due for a bounce but the long term charts have been damaged.
Rich Nelson with Allendale says the corn and wheat markets saw profit taking but also latched on to Black Sea headlines indicating Russian President Putin was open to a peace deal with Ukraine.
Matt Bennett with AgMarket.Net says grains rallied most of August and got a bit overbought so the correction was overdue and healthy. Plus, bull markets need to be continually fed.
Mark Knight with Farmers Keeper Financial says the grain markets are way overbought and due for a correction.
Allison Thompson with The Money Farm says the perfect storm has converged to bring massive fund buying into the grain markets and push prices to multi-year highs.
Jamie Gieseke with Paradigm Futures says the charts are bullish for grain markets, especially for corn.
Brian Grete with Commstock Investments says grain markets posted higher closes for the month with funds pouring massive amounts of money into the complex. Are they done buying yet is the question in a new month.