Wheat
Everything from possible tariffs...to ongoing dryness are factoring into planting decisions right now in the Northwestern Corn Belt.
Mike Zuzulo, Global Commodity Analytics, says wheat led the price rally and pulled up corn as traders were putting in weather premium and funds covered short positions. Feeder cattle made all-time highs.
Joe Kooima of Kooima Kooima Varilek says cattle and hogs both saw gap higher openings and are seeing triple digit gains with help from the cash. Corn is higher following wheat, while soybeans lag.
Don Roose, U.S. Commodities says corn and wheat end lower with soybeans higher Friday evening up positions ahead of the weekend.
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DuWayne Bosse, Bolt Marketing, says grain markets rebounded Thursday on technical buying after holding and bouncing off support areas. Strong export demand was also positive.
Mark Knight, Farmers Keeper Financial, says grains are seeing a technical bounce off support areas wtih strong weekly exports.
Alan Brugler with A&N Economics, LLC. says the tariff escalation once again weighed on the grain markets with the EU putting retaliatory tariffs on U.S. grains and threats that Canada would put levies on U.S. ethanol imports.
John Heinberg with Total Farm Marketing says grain and livestock both saw risk off selling tied to trade uncertainty, bearish outside markets and recessionary fears.
Kent Beadle with Paradigm Futures says corn is extending gains for a 5th session still in recovery mode after the panic liquidation tied to tariffs. Soybeans rebounded early.