WEATHER

Bryan Doherty, Total Farm Marketing, says grains failed to extend gains on Friday hitting chart resistance, but there was another big factor.

Darin Newsom, senior market analyst with Barchart, says grains are slightly higher Tuesday morning. While outside markets are reacting to the conflict between Israel and Iran.

Tomm Pftizenmaier of Summit Commodity Brokerage says soybeans saw some follow through buying on Monday but it was somewhat disappointing considering the limit up move in soybean oil.

Brad Kooima of Kooima Kooima Varilek says cattle futures started the day higher in recovery mode after a poor technical close on Friday and a bearish reversal lower for the week. Soybeans continue to rally on the heels of the surge in bean oil on EPA’s surprise biofuels news.

Craig Turner with StoneX says the markets were initially charged by news the U.S. and China had reached a trade framework. However, the deal was lacking in detail just like so many of the trade deals touted by the administration.

Kent Beadle with Paradigm Futures says the grain market is getting some support from news a framework has been worked out between the U.S. and China to at least call a truce on tariffs and remove restrictions on rare earth mineral imports.

Chip Nellinger, Blue Reef Agri-Marketing says the corn market saw a technical bounce and even some bull spreading on Tuesday, but most of it was tied to short covering. While cattle reacted to ICE raids at Omaha, NE meat plants.

Vince Boddicker, Farmers Trading Company, says old crop corn made another new low for the move overnight with national crop ratings improving by 3% to 71% good to excellent. The corn complex continues to face headwinds from weather, with no major threats on the horizon.

Chuck Shelby with Risk Management Commodities says Monday’s action in the grain markets was disappointing as the funds came back into sell in the grain complex.

Brad Kooima with Kooima Kooima Varilek says cash cattle trade shattered previous records last week and the futures are continuing to make new all-time highs on Monday in both live and feeder cattle futures.