Wheat
DuWayne Bosse of Bolt Marketing says pressure in grains is coming from a higher dollar, lower crude oil, Trump’s political appointments and weather.
Kent Beadle with Paradigm Futures says corn and soybeans are seeing technical selling after failing at chart resistance again on Monday.
Allison Thompson with The Money Farm says pressure in the grains came from a lack of news or fresh demand, farmer selling and bearish outside markets like lower crude oil and a higher dollar.
Jerry Gulke, president of the Gulke Group, says the election might have brought about a paradigm shift in the approach to agricultural policies.
Alan Brugler, A and N Economics says to keep corn and soybean prices moving higher the U.S. will need to see continued demand through the end of the year, which may be difficult with the fear of tariffs.
We recap this week’s price action and provide outlook for the next 5, 30 and 90 day segments.
USDA provides a bullish surprise on corn and soybean yields and ending stocks but little change on wheat. Jim McCormick, AgMarket.Net breaks down the report.
Mark Knight with Farmer’s Keeper Financial says grains open mixed digesting strong weekly exports and positioning ahead of the FOMC announcement and WASDE.
Darren Frye, Water Street Solutions, says it was an impressive that grains, especially the soybean complex, shook off the election results, possible tariff hikes and a sharply higher dollar.
Kevin Duling with KD Investors says grains started off lower with soybeans seeing double digit gains on the possibility of increased tariffs and a trade war with China, then bounced off the lows.