WEATHER
Vince Boddicker of Farmers Trading Company says while no sales have been confirmed, just the rumors of China in the U.S. market looking for bids brought buyers back into the market.
Grains saw nice reversals and closed higher on Monday, which was a victory considering the amount of bearish news the market had to absorb according to Kevin Duling with KD Investors.
Brad Kooima says cattle were catching some spillover selling from the news the Iran peace deal had been signed, the higher equity markets and lower crude oil futures.
John Heinberg with Total Farm Marketing says fund selling eased on Tuesday as traders gear up for the WASDE on Thursday
Dave Chatterton with Strategic Farm Marketing says funds have sold and liquidated hard the last three weeks in the corn market and while they took their foot off the gas on Monday he doesn’t think the selling is done.
Grain markets all made new lows for the move on additional fund long liquidation says Randy Martinson with Martinson Ag Risk Management.
Jim McCormick of AgMarket.Net says a new month brought in new money to the grain complex on inflationary concerns. How much higher could it go?
Scott Varilek of Kooima Kooima Varilek says tight supplies and a record cash market have supported the move to new highs. How high can live and feeder cattle futures run?
Allison Thompson with The Money Farm says corn and wheat saw some end of month profit taking Thursday, but it is a healthy correction.
Dave Chatterton with Strategic Farm Marketing says the grain markets were supported by money flow and funds were buying adding risk premium tied to war, inflation fears with soaring energy prices and weather.