Wheat
Rich Nelson of Allendale, Inc. says funds returned to sell in corn and soybeans on weak technicals, weather and crop ratings.
Mike Minor, Professional Ag Marketing, says corn and soybeans continue to see fund selling and broke below key moving averages Tuesday morning.
Brad Kooima with Kooima Kooima Varilek says the cattle futures opened lower on Monday on follow through selling after the bearish reversals scored on Friday. Corn and soybeans fall with rains over the weekend in the Corn Belt.
Don Roose, U.S. Commodities, says grain markets rallied Friday and were higher for the week. The markets saw technical buying and short covering as traders were adding weather premium in the corn market, and to some degree to soybeans. But is weather enough to bottom the market?
Naomi Blohm with Total Farm Marketing says corn took a break after a three-day rally running into chart resistance in the December contract around $4.25.
Randy Martinson, Martinson Ag, says corn tried to move higher early Thursday but the December contract is running into chart resistance with the 20-day moving average at $4.25. Can weather help the market get above this level?
Ted Seifried, Zaner Ag Hedge, says corn and to some degree soybeans, were adding weather premium as some heat comes is predicted for much of the Corn Belt in the extended forecasts. However, talk of China business also stirred up the trade.
Vince Boddicker, Farmers Trading Company, says corn is extending gains for a third day still seeing short covering. However, the corn and soybeans markets are adding some weather premium with extended forecasts looking hotter in the 11-15 day time period.
With today’s tech-packed harvesting equipment costing up to $1 million or more, ensuring you’re not leaving kernels on the ground can help pay the bills. Hear how one farmer is outfitting his combine with aftermarket technology to drive profits higher.
Chip Nellinger, Blue Reef Agri-Marketing says corn was able to build on Monday’s key reversals and close higher for a second day. However, without a weather problem what is the likelihood the market can sustain a rally?