We have some pressure on the grain markets this morning. New-crop futures are seeing some selling on talk of improved weather in the extended forecast. This week won’t be as wet as last week and temps are finally starting to look more spring-like. The outlook for the start of May is also more favorable. The heaviest pressure, however, is being seen in old-crop soybean futures. Listen to the “Monday Morning Wake Up Call” for more details on what’s in store this week.
Pro Farmer’s Monday Morning Wake Up Call
Traders are removing risk to start the week.
Related Stories
Darin Newsom, senior market analyst with Barchart, says it is not unexpected to see a little profit taking moving into the end of the month. However, he thinks any breaks will be bought by the trend following funds.
Jim McCormick with AgMarket.Net says the market saw massive fund buying and short covering adding war or geopolitical premium.
DuWayne Bosse of Bolt Marketing says funds are buying in corn on technical signals and concerns about a tightening U.S. and global balance sheet for corn.
Read Next
Farmers face potentially thousands in added costs as diesel inventories hit 40-year lows.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
