Weather - General
Arlan Suderman, chief commodities economist with StoneX, says the additional cut in winter wheat acres was a surprise but there were others as well.
Mike Zuzolo, Global Commodity Analytics, says grains were pressured by a host of factors including weather and fund liquidation.
Brad Kooima of Kooima Kooima Varilek says cattle futures are down with a risk off day in the ag markets. End of quarter profit taking and talk of a packer bailout is also weighing on futures.
With summer patterns running up to four weeks behind schedule, meteorologist Don Day urges growers to plan in short windows for the second half of the growing season.
Don Roose of U.S. Commodities says talk of China buying U.S. corn and soybeans helped spur the rally, but it was a combination of factors.
Sam Hudson of Corn Belt Marketing says funds sold the early bounce in grain markets with no bullish story.
After a down day on Tuesday the grain markets were higher early Wednesday a result of short covering according to Lane Akre, economist with Pro Farmer. However, he thinks the market has also taken out too much weather premium.
After waiting months for much-needed moisture, heavy rainfall is turning early-summer fieldwork into a high-stakes scramble for some Midwest farmers.
Jim McCormick of AgMarket.Net says the grain market has taken out premium tied to weather, war and China.
Scott Varilek with Kooima Kooima Varilek says the cattle market saw some pre-weekend positioning and was also trading news that a JBS beef slaughter plant in Pennsylvania was closing.