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Allison Thompson, The Money Farm, says soybeans are seeing follow through buying on Wednesday with the de-escalation of the China trade war.
Shell Rock, Iowa, farmer Jeff Reints started planting corn on April 8 — the earliest ever on his farm. He got 50% of his corn and soybeans in the ground before 3 inches of rain parked the planters.
Dan Basse, president of Ag Resource Company in Chicago, says corn was pressured by the fast planting pace of 12% nationally and a slightly more open forecast for the next week or so.
Scott Varilek, Kooima Kooima Varilek, says live and feeder cattle futures closed strong on Thursday and for the week, pushed by cash. While new crop corn and soybeans gained as the market transitions from focusing on demand, to focusing on supply.
Darin Newsom, Senior Market Analyst for Barchart, says it could just be an oversold bounce as the equity markets have reached bear market territory and that stabilization is helping to firm up the grain and especially the livestock futures.
On the last day of winter, blizzard conditions are impacting beef producers in Nebraska and Kansas.
Joe Kooima of Kooima Kooima Varilek says cattle and hogs both saw gap higher openings and are seeing triple digit gains with help from the cash. Corn is higher following wheat, while soybeans lag.
Don Roose, U.S. Commodities says corn and wheat end lower with soybeans higher Friday evening up positions ahead of the weekend.
Southern California’s prolonged dry spell — nearly eight months with negligible rain — is straining agriculture and raising concerns about wildfire risks.
CPC said, “Weak La Niña conditions would be less likely to result in conventional winter impacts, though predictable signals could still influence the forecast guidance.”