Agriculture

Corn futures staged nice recovery early yesterday but failed to hold all the gains into the close. This morning, prices are working back towards the top end of yesterday’s range.
Outside markets will continue to have a bearing on the grain sector, if we can avoid the limit down days and peak panic environment like we saw yesterday, we think the market can focus back on its own fundamentals.
As we continue volatility in every market, cocoa continues to move lower. As the May contract tests lows put in at the end of 2019, demand for chocolate could take the front stage for cocoa futures.
Soybean futures got taken to the woodshed yesterday, alongside nearly everything else. Outside markets have firmed in the overnight/early morning trade which has helped offer relief to beans.
Soybean futures got taken to the woodshed yesterday, alongside nearly everything else. Outside markets have firmed in the overnight/early morning trade which has helped offer relief to beans.
Expect the volatility in the outside markets to continue to be the leader for cattle. Overtime, volatility will come back out and things will stabilize. When that happens, we think some of the best opportunities will be in cattle futures.
Oliver Sloup breaks down the trading day in grain futures markets.
Cash cattle trade started to pick up yesterday, the bulk of it coming in near 113 in KS & TX. The market managed to rally on the back of this news as market participants seemed relieved that it wasn’t lower.
May corn futures continued to drift lower yesterday and the technical landscape has gone from bad to worse over the past few sessions
Live cattle futures were nearly limit down on Friday and nearly limit up on Monday, as mentioned in yesterday’s report and in our interview with RFD-TV, the outside markets will be the driver of price action in the near term.