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Don Wick
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Jamie DickermanHostDon Wick
The grain market saw a volatile finish to the week as traders balanced disappointment over the lack of immediate U.S.-Chinese trade news with continued harvest delays.
U.S. Commodities President Don Rose says wet weather returned as the dominant market factor late in the week.
spent most of the week kind of concerned with the wet weather for the beginning of the week in the western Corn Belt, particularly basis levels firming up, corn and beans just in the western and the plains just because of the wet weather.
Then we had the Trump-Xi meeting as we ran into Thursday, and basically nothing of fresh news came out of that for additional U.S. ag demand.
And that was enough to press the market sharply lower than across the board, but then we came back to the dominant issue, and that was the wet weather.
We've got soaking rain about every two to three days for the next seven to ten days, and that is enough to give us some support.
Rose says the market will turn its attention to additional details from the U.S.-China talks expected Monday and the September 30th quarterly stocks report.
Meanwhile, the cattle futures still on track for some weekly gains after getting the early boost from last week's cattle on feed report, according to Martinson Ag Risk Management President
Randy Martinson.
We traded back and forth all week.
Now, the nice part is that our wins have been better than our losses, so we're actually going to post some pretty good gains this week, which you know, is encouraging on the technical side to maybe see some of these funds come back in and reestablish their long positions.
But we're also looking at, you know, we're at the end of September, that the spring calves are going to start hitting the market here pretty soon.
And that could come in and start depressing a little bit of the market.
But at this point, demand continues to be strong.
North Star Commodity Chief Market Analyst Mark Schultz says the wet weather is slowing the harvest activity across parts of the area.
Most farmers are chased from the field because of the wet weather, so the crop isn't ready to harvest.
There might be a few places going here or there, but...
Not much is happening on that front.
Russian companies converting fertilizer, coal, and other terminals along the Baltic Sea and Arctic to handle grain.
Russia exporting 4.4 million metric tons of grain in July and August, down 31% from a year ago.
The grain market saw a volatile finish to the week as traders balanced disappointment over the lack of immediate U.S.-Chinese trade news with continued harvest delays.
U.S. Commodities President Don Rose says wet weather returned as the dominant market factor late in the week.
spent most of the week kind of concerned with the wet weather for the beginning of the week in the western Corn Belt, particularly basis levels firming up, corn and beans just in the western and the plains just because of the wet weather.
Then we had the Trump-Xi meeting as we ran into Thursday, and basically nothing of fresh news came out of that for additional U.S. ag demand.
And that was enough to press the market sharply lower than across the board, but then we came back to the dominant issue, and that was the wet weather.
We've got soaking rain about every two to three days for the next seven to ten days, and that is enough to give us some support.
Rose says the market will turn its attention to additional details from the U.S.-China talks expected Monday and the September 30th quarterly stocks report.
Meanwhile, the cattle futures still on track for some weekly gains after getting the early boost from last week's cattle on feed report, according to Martinson Ag Risk Management President
Randy Martinson.
We traded back and forth all week.
Now, the nice part is that our wins have been better than our losses, so we're actually going to post some pretty good gains this week, which you know, is encouraging on the technical side to maybe see some of these funds come back in and reestablish their long positions.
But we're also looking at, you know, we're at the end of September, that the spring calves are going to start hitting the market here pretty soon.
And that could come in and start depressing a little bit of the market.
But at this point, demand continues to be strong.
North Star Commodity Chief Market Analyst Mark Schultz says the wet weather is slowing the harvest activity across parts of the area.
Most farmers are chased from the field because of the wet weather, so the crop isn't ready to harvest.
There might be a few places going here or there, but...
Not much is happening on that front.
Russian companies converting fertilizer, coal, and other terminals along the Baltic Sea and Arctic to handle grain.
Russia exporting 4.4 million metric tons of grain in July and August, down 31% from a year ago.
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