Wheat
Randy Martinson, Martinson Ag, says many markets were extracting risk or war premium on Wednesday.
Indiana farmer Jason Mauck uses his wheat crop as a “supporting actor” to increase soybean yields and boost profits.
Ted Seifried with Zaner Ag Hedge says markets were removing war premium but the key is will the ceasefire stick and does the Strait of Hormuz get reopened?
Corn, wheat and crude oil were lower after a possible two week cease fire between the U.S. and Iran. says Randy Martinson with Martinson Ag.
In Texas, for example, more than half of the winter wheat is rated poor to very poor. USDA Meteorologist Brad Rippey says the state recently endured its fourth-driest stretch from September to February in the last 131 years.
The commodity wide selling pressure was tied to risk aversion and uncertainty regarding the escalation of the Iran War according to Mark Knight with Farmers Keeper Financial.
Corn and soybeans ended slightly higher with a push from slightly higher crude oil and swirling Iran war headlines according to Chuck Shelby with Risk Management Commodities.
Brad Kooima with Kooima Kooima Varilek says the live cattle futures are chasing sharply higher cash trade from last week.
Shawn Hackett with Hackett Financial Advisors says corn and soybeans are experiencing war fatigue and are tired of chasing every headline.
Darin Newsom, senior market analyst with Barchart says the grains are chasing the sharply higher crude oil prices which were up over $10 and Iran war headlines.