WEATHER
DuWayne Bosse of Bolt Marketing says funds are buying in corn on technical signals and concerns about a tightening U.S. and global balance sheet for corn.
Darren Frye with Water Street Solutions says the funds bought corn on the break with crop ratings down 3% and made a new contract high close. Can futures keep moving to $6 or where do they project to?
Randy Martinson with Martinson Ag says the corn market saw new contract highs on Monday. Tuesday morning it looked like funds were back in buying the break.
Alan Brugler of A&N Economics says corn made new contract highs Sunday night but if it was trading the 173.2 bu. per acre corn yield from Pro Farmer prices would be much higher.
Brad Kooima of Kooima Kooima Varilek says the placements were 11% below last year and a bullish surprise for him and the trade. However, the President’s beef plan it stifling the recovery.
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.