Markets Today
Ted Seifried with Zaner Ag Hedge says rumors of China purchases circulate nearly every time the corn market rallies.
Jeff Hoogendoorn, with Professional Ag Marketing, says hogs ended mixed Wednesday, consolidating after the recent rally driven by higher cash and cutouts. While soybeans rallied after the Trump/Xi call.
Dave Chatterton, Strategic Farm Marketing, says the markets faded the news as the realization set in that no major breakthroughs in the trade talks are expected and a long term trade deal with China could take quite some time.
Arlan Suderman, StoneX Chief Commodities Economist says the markets reacted positively to the 90-day delay on reciprocal tariffs for countries that reached out to negotiate with the U.S. and did not retaliate.
Naomi Blohm, Total Farm Marketing, says grains rebound as the market has absorbed much of the tariff news. Meanwhile, livestock saw follow through selling and triple digit losses.
Hogs Bounce Off Contract Lows
Cattle open lower but off lows. How bearish was the COF and will weather, higher cash trump it? Hogs down w/slightly larger herd. Grains open higher then turn mixed. Brad Kooima, Kooima Kooima Varilek, has more.
Grains close mixed with a big rally in soybeans pulling up corn, while wheat ended lower after the WASDE. Cattle were mixed, hogs set back. Michelle Rook gets analysis with Darren Frye of Water Street Solutions.
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.