Wheat

Matt Bennett, AgMarket.Net, says soybeans rallied with the tailwind of more talk of Chinese tensions easing and May closed above key 200-day moving average resistance.

Allison Thompson, The Money Farm, says soybeans are seeing follow through buying on Wednesday with the de-escalation of the China trade war.

Dan Basse, president of Ag Resource Company in Chicago, says corn was pressured by the fast planting pace of 12% nationally and a slightly more open forecast for the next week or so.

Mark Knight, Farmer’s Keeper Financial, says corn and wheat are under pressure from fast corn planting pace and rains in the forecast for hard red winter wheat country. Soybeans bounced off support, but need to take out technical resistance to keep the momentum going.

The original proposal would have resulted in millions of dollars of fees per vessel, thus lowering commodity prices. The revisions, however, have some key exemptions that are net positive for U.S. agriculture.

Vince Boddicker, Farmers Trading Company, says grain and cattle markets saw selling Monday in tandem with the collapse in outside markets.

Brad Kooima, Kooima Kooima Varilek, says grains lose early strength running into chart resistance. While cattle also started higher with the sharply higher cash trade Thursday but faded.

Randy Martinson, Martinson Ag, says the grains markets started the day session higher with weekly exports strong except for old crop wheat. However, the market turned mixed with positioning ahead of a three day holiday and watching weather.

Mark Schultz, Northstar Commodity, says several factors combined to cause the commodity wide buying on Wednesday.

Chuck Shelby with Risk Management Commodities says grain markets continue to see profit taking after the recent relief rally pushed old crop corn, soybeans and wheat up into technical resistance on the charts.