Wheat
His senior year of high school, Dalton Dilldine’s dad unexpectedly passed away, leaving a limited succession plan and a teenager with a big decision: take over the operation, start his own farm or go to college. He chose all three.
Kevin Duling, KD Investors, says grains closed higher on fund buying and March corn closed above $5 with March Chicago wheat closing above $6.
Kent Beadle, Paradigm Futures, says grains faded early strength as corn finally gets above $5 on the March or front month contract and sees farmer selling and profit taking.
Is it possible the wheat market is finally seeing the same paradigm shift that’s already taken place in the corn market? Jerry Gulke is watching several signals for an answer, including speculator activity in the wheat market.
The conflict in Ukraine has been a focus for certain markets, such as wheat, since Russia first invaded the country nearly three years ago. This past week, President Donald Trump said negotiations to end the war would start “immediately.”
Garrett Toay, AgTraderTalk, says grains saw technical buying led by wheat and surged to end the week. However, there were also some big fundamental drivers.
Scott Varilek, Kooima Kooima Varilek, says grains are rallying but cattle are seeing some selling pressure again ahead of a three day weekend but are holding chart support.
Rich Nelson of Allendale says grains closed quietly higher with corn and wheat supported by strong weekly exports.
Mike Minor, Professional Ag Marketing, says the rally in corn was fueled by fund buying especially after inflation data in the CPI ran hot. Pressure in soybeans came from South American hedge pressure.
DuWayne Bosse, Bolt Marketing, says after a lower opening Wednesday corn recovered nicely on fund buying and a fresh export sale.