WEATHER
Mike Minor, Professional Ag Marketing, says corn and wheat futures have had a nice rally off of extremely low price levels hit last week and oversold conditions. However, the markets hare running into chart resistance.
Mark Schultz, Northstar Commodity, says the rally in wheat has been driven by weather and money flow but wheat, corn and soybeans are running into chart resistance.
Kent Beadle, Paradigm Futures, says the grain rally is being supported by technical or fund buying, the U.S. lower dollar index and weather.
Bryan Doherty, Total Farm Marketing, says grains extended gains for a second day with wheat seeing the biggest gains. The rally in wheat has been driven by short covering and weather concerns.
Jon Scheve, Superior Feed Ingredients, says grain markets extended gains early Tuesday. He thinks the rally in grains may be more than just technical buying or a recovery rally.
DuWayne Bosse, Bolt Marketing, says most of the bounce in the grain markets was short covering or short profit taking.
Dave Chatterton, Strategic Farm Marketing, says the markets faded the news as the realization set in that no major breakthroughs in the trade talks are expected and a long term trade deal with China could take quite some time.
Oliver Sloup, Blue Line Futures, says there was risk on buying across the commodity and financial markets due to more positive trade news and economic headlines.
Kevin Duling, KD Investors, says soybeans see a bounce Thursday after four down days on technical buying and with help from soybean oil.
Randy Martinson, Martinson Ag, says corn and wheat futures are seeing some technical buying with first notice day and end of month positioning out of the way.