Wheat
Rich Nelson with Allendale says while he doesn’t agree with it, the corn market was seeing some weather premium added on concerns about planting delays which takes away the argument for record acreage.
Brian Grete with CommStock Investments says soybeans were higher Wednesday on optimism about the mid-May meeting with China and corn was following.
According to Tommy Grisafi of Nesvick Trading money flow the last two sessions in the outside markets had a huge impact on ag markets.
Jon Scheve with Scheve Grain thinks the grain markets have transitioned over to trading more of its own fundamentals.
Mark Schultz with Northstar Commodity says the grains and energy sector started higher on war headlines but peaked out quickly by mid session acting like it wasn’t that concerned about the war.
Live cattle futures made new and all-time contract highs on Friday with the April contract closing above $250.
Don Roose with U.S. Commodities say soybeans followed meal and hold a premium on hopes of China business.
Scott Varilek with Kooima Kooima Varilek says the cattle market has been impressive and resilient.
With wheat barely a foot tall, the flag leaf is already emerging—a sign the crop is rushing to reproduce under stress, leaving too little structure to support a harvest. Less than 10% may be harvested in West Texas.
Chip Nellinger with Blue Reef Agri-Marketing says, “USDA did rearrange some of the soybean demand estimates with crush raised 35 million bu. while exports were lowered the same amount.”