President Trump was scheduled to speak at the U.N General Assembly Tuesday morning and there was hope for peace to the wars in Iran and the Black Sea according to Lane Akre, economist with Pro Farmer.
Chip Nellinger with Blue Reef Agri-Marketing says grains saw profit taking heading into a long weekend, which is not unexpected. However, he thinks the market has more work to do.
Jerry Gulke, president of the Gulke Group, has been fielding questions from farmers wanting to know how long the explosive rally could last and how high prices could run?
Scott Varilek with Kooima Kooima Varilek says the Truth Social post from President Trump that 300,000 MT of beef imports will enter the U.S. duty free over the next 90 days to lower beef prices tanked the cattle market early Friday.
Lane Akre, economist with Pro Farmer, says the corn made new highs on Friday but may have to go higher with their big yield cut of 7.5 bu. from USDA's August estimate.
Joe Kooima with Kooima Kooima Varilek says the cattle were down early Friday pricing in the plant closure news, but this time seems different regarding the long term implications for the market.
Jerry Gulke, president of the Gulke Group, says with the amount of variability in this year's crop it makes yields difficult to determine. So, he suggests producers do some risk management before the August WASDE.
A day after making new highs for the year and hitting the highest levels in three years, the soybean market saw some profit taking and consolidation. Corn and wheat resumed their rally.
DuWayne Bosse of Bolt Marketing says the wheat market was trying to extend gains early Thursday but may be getting close to pricing the Black Sea export disruptions in.
