Focus on weather, planting progress

FOR TUESDAY (6/6) The trade was watching the U.S. planting pace with a mixed forecast for the Midwest and Plains over the next few days. As of Sunday, 83% of U.S. beans are planted, compared to the five year average of 79%, and 58% have emerged, compared to 59% on average. No states have officially…


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Hogs a buy on dips

FOR MONDAY: (6/5) Wheat harvesters this week said yields in Texas and Oklahoma were lower than expected and some fields were grazed by cattle instead of allowed to mature. Forecasts keep scattered showers and cool weather in the Midwest the next few days. The latest 6- to 10-day outlook (June 8-12) is dry but cool…


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Cattle too strong to sell

FOR THURSDAY: (6/1) Usually meats and grains are lower on Thursdays but not clear on grains this week. First-the-month fund buying may lift some oversold conditions for bargain hunters. Hogs aren’t done enough to sell and cattle are too strong to sell.


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Ag markets moving toward position squaring

FOR WEDNESDAY: (5/31) Corn opened sharply higher as the ping-pong match continues between 376 and 366. Markets were overdone on Tuesday and a bounce here is healthy. Downward patterns weren’t quite completed for wheat and beans so we’re open for another thrust lower. Cattle liked news out of China but still may be in trouble…


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Friday’s rallies may begiven back early in the week into May 31

FOR TUESDAY: (5/30) Will the trade focus on the wetter Eastern corn belt which pushed the market up last week or the drier and warmer weather by the end of the week? I suspect that Friday’s rallies will be given back early in the week into May 31 but it does seem that prices may…


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Focus on weekend weather

FOR FRIDAY: (5/26) Fridays before long weekends can be rather sideways. We have to wait for Monday’s weather to get any new surprises out of the market and while we have weekend rain, not sure the market cares that much more given that it only could push corn up to 375 earlier in the week….


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Hogs not done until 8290-8300

FOR THURSDAY: (5/25) We had a bias toward higher grains on Thursday and they usually are not higher this day. Cattle in transition and have to leave it alone and if you want to gamble on a weak reaction to the report for Friday, get in on Friday. Hogs not done until 8290-8300 comes in.


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Could see short-covering Thursday

FOR WEDNESDAY: (5/24) We usually don’t want to be short grains on Wednesday so watch carefully and take partial profits and move stops down. We could see short-covering on Thursday before the long weekend but market looks lower after the holiday. Corn and soybean futures closed lower as USDA data late yesterday showed farmers successfully…


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Expecting lower grain prices for a few days

FOR TUESDAY: (5/23) Bean plantings were below expectations for 56% but still average for this time of year. The 29/30 day cycles are lower on Tuesday and are inclined to expect lower prices for a few days now. Need to see wheat break; otherwise we would be concerned. The cycle into Thursday is often rather…


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Grains higher on Monday

FOR MONDAY: (5/22) Corn futures closed higher for the day and for the fourth straight week as rain and cold weather may impede the last of this year’s planting and possibly cause some fields to be replanted. Soybeans finished higher for the day but lower for the week. Investors are watching action in Brasilia, Brazil’s…


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