WEATHER
Lane Akre, economist with Pro Farmer, says the corn made new highs on Friday but may have to go higher with their big yield cut of 7.5 bu. from USDA’s August estimate.
Joe Kooima with Kooima Kooima Varilek says the cattle were down early Friday pricing in the plant closure news, but this time seems different regarding the long term implications for the market.
Sam Hudson of Corn Belt Marketing says the grain rally on Wednesday was impressive but ran out of steam.
Kyle Bumsted of Allendale says corn was taking a breather after 20 cent report gains on Wednesday. Cattle and hogs were down hard.
Dave Chatterton of Strategic Farm Marketing says USDA provided some positive data for the corn market in the WASDE and could be headed for $5.
Rich Nelson with Allendale says grains saw selling pressure as there are plenty of questions regarding USDA’s numbers especially after last August’s yield and acreage shock.
A severe Midwest storm system is producing destructive 100+ mph winds from Chicago to northwest Indiana as farmers survey field damage.
Mike Minor with Professional Ag Marketing says grains were under pressure early Tuesday positioning ahead of the August report and with news of Russia and Ukraine meeting to discuss safe passage of vessels in the Black Sea.