Wheat
Alan Brugler, A&N Economics, says soybeans sank on demand concerns with large global supplies and China continuing to buy from South America. November soybeans fell below $10 and project even lower.
Kevin Duling, KD Investors, says corn is trying to bounce Wednesday off of new contract lows scored in old crop futures and wheat is also trying to recover after new lows on Tuesday.
Matt Bennett, AgMarket.Net, says it was an ugly day in the grain markets with old crop corn making new contract lows once again with spillover pressure from wheat and a higher dollar.
Mike Steenhoek, executive director of the Soy Transportation Coalition, says if approved the merger could change the shipping landscape with both winners and losers.
Darin Newsom, Senior market analyst for Barchart, Inc. says grains are working on a lower weekly close this week with the early pressure Friday. Funds have had no reason to buy grains he says.
Jim McCormick, AgMarket.Net, says corn saw a dead cat bounce with 3-cent gains on light short covering and solid export news.
Randy Martinson, Martinson Ag, says corn saw some early strength bouncing off support areas on the charts but is struggling to hold gains due to mostly favorable extended weather forecasts.
Dan Basse, president, Ag Resource Company, says the grain markets faded the announcements regarding three trade deals, including Japan, due to the lack of details.
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.