Wheat
John Heinberg, Total Farm Marketing, says grains opened lower on Monday but recovered shortly after the opening when news broke that the U.S. would delay tariffs on Mexico for 30 days to allow negotiations.
Brad Kooima, Kooima Kooima Varilek, says grain and livestock futures opened mostly lower in response to tariffs imposed on China, Canada and Mexico over the weekend and retaliatory measures from those countries.
Bryan Doherty with Total Farm Marketing says most markets had a negative reaction to to the 25% tariffs on Mexican and Canada starting this weekend and possible retaliation.
Randy Martinson, Martinson Ag, says grain and hog markets opened lower reacting to President Trump announcing Thursday afternoon the U.S. would be moving ahead with 25% tariffs on Mexico and Canada on Feb. 1.
Kent Beadle, Paradigm Futures, says grains rallied with corn making new highs for the move but wheat also saw double digit gains.
At the height of the recent cold wave in January, subzero temperatures were noted across the Great Plains and as far south as the northern Panhandle of Texas. According to USDA Meteorologist Brad Rippey, temperatures dipped to -20°F and below across the Northern Plains.
Chip Nellinger, Blue-Reef AgriMarketing says grains rally with corn pulling up the rest of the complex on South American weather concerns.
Chuck Shelby, Risk Management Commodities, says grains close higher seeing fund buying and consolidation with the markets still digesting possible tariffs and South American weather.
DuWayne Bosse, Bolt Marketing, says corn and wheat are trying to recover Tuesday with fund short covering.
Mike Zuzulo, Global Commodity Analytics, says grains further corrected with funds liquidating in corn, soybeans and meal due to rains over the weekend in Argentina and more in the extended forecast.
Cattle hit record highs again and hogs follow, says Brad Kooima of Kooima Kooima Varilek. Grains break on South America weather and tariff concerns.
Corn, soybeans and wheat all closed higher for the week in the face of heightened uncertainty. Jerry Gulke, president of the Gulke Group, says to him that kind of resilience is an underlying sign of a bull market.
Dan Basse with Ag Resource, says grain markets set back on profit taking after running into chart resistance and news Argentina is lowering its export taxes on grains.
Craig Turner with StoneX says corn and soybeans rebounded Thursday and made fresh for the move highs on fund buying but South American weather and crop concerns are also supportive.
Chuck Shelby, Risk Management Commodities, says corn and soybeans saw profit taking after running into chart resistance on Wednesday but rebounded this morning adding back South America weather premium.
Ted Seifried with Zaner Ag Hedge says corn and soybeans saw a profit taking setback after making new highs for the move and hitting significant price objectives.
Arlan Suderman, chief commodities economist with StoneX, says a combination of factors supported the rally in grains, which all scored new highs for the move.
With the farm bill now extended for another year, ARC-CO and PLC support levels for 2025 are now known. A new report from Terrain breaks down the numbers.
Kent Beadle, Paradigm Futures, says grain markets breathed a sigh of relief there are no immediate Chinese tariffs being imposed by the Trump Administration, that sent the U.S. dollar index sharply lower which is also supportive.
Jerry Gulke, president of the Gulke Group, says the strength in corn can pull the soybean markets and maybe even wheat higher for a handful of fundamental reasons.
Tommy Grisafi with Nesvick Trading Group says corn closed above technical resistance of $4.80 despite the uncertainty of South American weather and tariffs under a new administration.
Don Roose, U.S. Commodities says corn saw some fund buying on tight supplies and with help from concerns about Argentina weather. However, soybeans couldn’t follow, pulled down by meal.
Mike Zuzulo, Global Commodity Analytics, says corn and soybeans are watching South American weather with hot dry conditions mainly in Argentina and Southern Brazil but some rain in the weekend forecast.
DuWayne Bosse with Bolt Marketing says corn and soybeans saw profit taking after stretching to new highs for the move as the markets were overbought.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says corn and soybeans continued to see gains from strong technical closes on Friday and extending the report rally.
Shawn Hackett with Hackett Financial Advisors says it will be tough for corn to run to $5 because report just confirmed what the market already knew.
Allison Thompson with The Money Farm says corn has rallied nearly $1 and soybeans around 50 cents off the lows. So production and ending stocks will need to come in well under trade estimates in the USDA reports for prices to push higher.
Mark Schultz, Northstar Commodity, says corn and soybeans saw pressure from some rain added to the 11-15 day weather forecast in Argentina and Southern Brazil and USDA report positioning. Cattle saw profit taking and maybe some reaction to the border opening to Mexican feeder cattle imports soon.
Rich Nelson with Allendale, Inc. says grain markets are seeing early pressure with a rebound in the U.S. dollar index back near recent highs, but also watching South American weather and ahead of USDA reports on Friday.
Kent Beadle with Paradigm Futures says corn and soybeans are seeing profit taking and farmer selling after hitting chart resistance on Monday at previous highs and retreating.