Wheat
Chip Nellinger, Blue Reef Agri-Marketing says the corn market saw a technical bounce and even some bull spreading on Tuesday, but most of it was tied to short covering. While cattle reacted to ICE raids at Omaha, NE meat plants.
Vince Boddicker, Farmers Trading Company, says old crop corn made another new low for the move overnight with national crop ratings improving by 3% to 71% good to excellent. The corn complex continues to face headwinds from weather, with no major threats on the horizon.
Chuck Shelby with Risk Management Commodities says Monday’s action in the grain markets was disappointing as the funds came back into sell in the grain complex.
Garrett Toay with AgTraderTalk says grains also saw mostly higher weekly closes mostly as a result of technical buying.
Jeff Hoogendoorn, with Professional Ag Marketing, says hogs ended mixed Wednesday, consolidating after the recent rally driven by higher cash and cutouts. While soybeans rallied after the Trump/Xi call.
Corteva Forcivo will feature three modes of action to address foliar diseases in corn, soybeans, wheat and other crops via overlapping preventive and curative activity.
Mark Knight with Farmers Keeper Financial says grains opened higher on news of a call between President Trump and Chinese President Xi then traded on both sides of steady.
Initial ratings for top producer, North Dakota, were just 37% good to excellent.
A 25-page criminal complaint alleges the researcher and her boyfriend were attempting to bring Fusarium graminearum into the country. The fungus causes significant diseases in a number of food crops, including corn, wheat, barley, soybeans and rice. Toxins from the fungus are harmful to humans and livestock.
Tommy Grisafi of Nesvick Trading says it was a risk on day in the grains as they attempted to add weather premium on the hot, dry extended forecasts. “I feel like these markets have very little if any weather premium.”
Don Roose, U.S. Commodities, says corn and soybeans finally bounced Tuesday after closing lower for several days. He says both markets were adding risk premium and scored reversals.
Brian Grete, Pro Farmer Editor, says soybeans roll over and make new lows for the move on China U.S. trade tensions, which weighed on corn.
The grain markets were lower for the week, except for hard red spring wheat. Jerry Gulke, president of the Gulke Group, says he thinks the pressure was largely in response to this week’s surprising trade developments.
Allison Thompson with The Money Farm, says it was a lower week in the grains on a combination of technical selling, weather and trade uncertainty.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are chasing exploding cash early Friday, with more record high prices paid in all areas. Corn and soybeans continue to be weak with mostly favorable weather.
Kent Beadle of Paradigm Futures says, unlike the financial markets, the ag futures did not see the positive reaction to the ITC court ruling declaring the “Independence Day” tariffs as illegal.
Darin Newsom, Barchart, says the financial markets have reacted positively to the International Trade Commission’s court ruling against the Trump tariffs, declaring them unlawful. However, the ag markets are disregarding the news.
Matt Bennett with AgMarket.Net says corn and soybeans saw heavy technical or fund selling pressure on Wednesday, some of it in the grains was tied to weather.
Randy Martinson, Martinson Ag, says wheat is seeing some strength from lower crop conditions,.
Arlan Suderman, Chief Commodities Economist with StoneX, says corn and wheat saw pressure from weather, largely disregarding the positive news of EU tariff delays.
After turning bearish last week, Jerry Gulke, president of the Gulke Group, says he watched the markets all rally without a real fundamental reason for the move.
Darren Frye, Water Street Solutions, says the grain markets saw risk off selling tied to President Trump’s threat of 50% tariffs on the EU on June 1.
John Deere is acquiring a drone and aerial imaging company to build out its Operations Center and application tech portfolio. Find out what we learned from executives from both companies.
Many farm organizations say the 68-page document released on Thursday is filled with “fear-based rather than science-based information about pesticides,” positioning that will sow seeds of distrust with the American public.
Naomi Blohm, Total Farm Marketing, says grains markets end mixed with a lack of news and after hitting chart resistance.
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.
A recent congressional hearing addressed how U.S. crop protection companies and researchers use artificial intelligence to help farmers eradicate diseases, boost yields and stay competitive globally.