Wheat
Shawn Hackett with Hackett Financial Advisors says the market fears that China will use the ruling as leverage to get out of its trade framework struck with the U.S. on Oct. 30 and that could include its soybean purchase commitments.
The company says its high-oil, low-carbon intensity seed products will help growers develop additional income from existing acres.
Sam Hudson with Corn Belt Marketing says the wheat and soybean market continue to see fund buying, but corn can’t follow. Corn is repeating the same trend it exhibited last year at this time.
Brad Kooima of Kooima Kooima Varilek says cattle futures are getting overbought and ran into another layer of chart resistance Wednesday but higher cash could push the market to new highs.
Darin Newsom, Senior market analyst with Barchart, Inc. says the algorithm traders have been chasing the headlines of the China story and increased biofuels blending levels.
Mike Zuzolo with Global Commodity Analytics says soybeans saw continued resilience due to strong demand including expectations of renewable biofuel increases.
Soybeans started off slightly lower on corrective selling but quickly found buying interest says Randy Martinson of Martinson Ag.
Soybeans were lower by 3 to 4 cents on Friday on profit taking heading into the holiday according to Darren Frye with Water Street Solutions but ended higher for the week.
Scott Varilek with Kooima Kooima Varilek says the cattle futures have been chopping back and forth this week and need to take out last week’s highs on the charts to break out and to new highs.
Mark Schultz with Northstar Commodity says news of a possible China trade truce extension fueled hopes for additional purchases of American agricultural products, including soybeans.