Arlan Suderman with StoneX, Inc. says some of Monday's buying was tied to money flow and end of the year profit taking he says. The higher energy market was also supportive of the grains.
The U.S. Climate Prediction Center forecasts the weather pattern to persist for the next month or two, which is ideal for soybean reproductive stages, but the transition might impact the tail-end of the region's growing season.
Soybean futures ended sharply lower on Friday, with the January contract down 33¢ for the week. Matt Bennett with AgMarket.Net says the poor close is tied to mixed messages about a signed soybean agreement with China and sales progress.
Corn and wheat futures were lower early Wednesday seeing some profit taking after a higher close Tuesday says Darin Newsom, senior market analyst with Barchart.
The use of regenerative practices at Stoney Creek Farm has lowered their costs and improved their profitability, but its also shaped their faith journey.
Scott Varilek with Kooima Kooima Varilek says the market had been anticipating the tariffs to be lowered on Brazil beef for several days and it was part of the recent selloff in cattle. "So I think a lot of this was already penciled into prices." he explains.
Randy Martinson says confirmation of 29 million bushels of soybeans sold to China is already priced into the market after the big rally to 17-month highs in soybeans. So, the market is seeing a traditional "buy to rumor sell the fact" reaction.
Mike Minor says the agency reported 29 million bushels of soybean purchases Tuesday morning which brings China's total to from 8% to 12% of the total 12 MMT commitments they've made.