Wheat

At the height of the recent cold wave in January, subzero temperatures were noted across the Great Plains and as far south as the northern Panhandle of Texas. According to USDA Meteorologist Brad Rippey, temperatures dipped to -20°F and below across the Northern Plains.

Chip Nellinger, Blue-Reef AgriMarketing says grains rally with corn pulling up the rest of the complex on South American weather concerns.

Chuck Shelby, Risk Management Commodities, says grains close higher seeing fund buying and consolidation with the markets still digesting possible tariffs and South American weather.

DuWayne Bosse, Bolt Marketing, says corn and wheat are trying to recover Tuesday with fund short covering.

Mike Zuzulo, Global Commodity Analytics, says grains further corrected with funds liquidating in corn, soybeans and meal due to rains over the weekend in Argentina and more in the extended forecast.

Cattle hit record highs again and hogs follow, says Brad Kooima of Kooima Kooima Varilek. Grains break on South America weather and tariff concerns.

Corn, soybeans and wheat all closed higher for the week in the face of heightened uncertainty. Jerry Gulke, president of the Gulke Group, says to him that kind of resilience is an underlying sign of a bull market.

Dan Basse with Ag Resource, says grain markets set back on profit taking after running into chart resistance and news Argentina is lowering its export taxes on grains.

Craig Turner with StoneX says corn and soybeans rebounded Thursday and made fresh for the move highs on fund buying but South American weather and crop concerns are also supportive.

Chuck Shelby, Risk Management Commodities, says corn and soybeans saw profit taking after running into chart resistance on Wednesday but rebounded this morning adding back South America weather premium.