Wheat
Brian Grete, Pro Farmer, says grains see a healthy correction on profit taking after hitting resistance. Cattle continue to recover with the S&P but for how long?
Bryan Doherty, Total Farm Marketing, says the way the markets shook off the escalating trade war with China was impressive but it will take several factors converging to keep the momentum going.
Mark Schultz, Northstar Commodity, says the ag markets have handled the escalation of the trade war with China remarkably well this week.
Chip Nellinger, Blue Reef Agri-Marketing, says corn and soybeans ended higher with lower ending stocks in the WASDE as corn fell below the 1.5 billion bu. mark.
Major changes weren’t anticipated for USDA’s April World Agricultural Supply and Demand Report, but there were still a few surprises — mostly for corn.
Arlan Suderman, StoneX Chief Commodities Economist says the markets reacted positively to the 90-day delay on reciprocal tariffs for countries that reached out to negotiate with the U.S. and did not retaliate.
Kevin Duling, KD Investors, says grains are shaking off the news of an escalation of the trade war with China as they announced overnight they would be placing an additional 50% retaliatory tariff on U.S. goods, including ag.
Mike Minor, Professional Ag Marketing, says while the tariff news was a bit more subdued Tuesday the markets are still watching tariff headlines and that is impacting money flow in and out of the financial sector as well as the commodities.
Darin Newsom, Senior Market Analyst for Barchart, says it could just be an oversold bounce as the equity markets have reached bear market territory and that stabilization is helping to firm up the grain and especially the livestock futures.
Naomi Blohm, Total Farm Marketing, says grains rebound as the market has absorbed much of the tariff news. Meanwhile, livestock saw follow through selling and triple digit losses.