Grains mixed with soy oil strength on biofuel demand; wheat supported by Europe heat; Midwest rains pressure corn; cattle fade highs; crude and metals lower.
Grains mixed with soy oil strength on biofuel demand; wheat supported by Europe heat; Midwest rains pressure corn; cattle fade highs; crude and metals lower.
Wheat led a volatile but positive week as global weather threats mounted. Corn and soybeans held weekly gains despite Friday selling, while cattle weakened ahead of Cattle on Feed.
Wheat led grain markets higher for a third straight session as European heat threats and short covering fueled gains. Soybeans and corn firmed on China demand rumors.
Grains reversed early gains as crude oil collapsed. Soybeans supported by strong crush margins and Brazil premiums. Cattle surged on strong beef demand while hogs weakened.
Crude oil plunged on Iran ceasefire hopes, but grains recovered. Corn and soybeans held support, cattle rallied sharply, while traders await acreage data and weather.
We saw wheat-friendly WASDE numbers overshadowed by broad commodity selling, crude oil's sharp break, and continued pressure on corn and soybean futures.
We saw grains stabilize after heavy liquidation as bargain buying emerged, while cattle rebounded sharply from support levels and outside markets remained under pressure.
We saw grains stabilize after aggressive fund liquidation, wheat gained support from disease concerns, cattle remained pressured by screw worm fears, and energy stayed volatile.
We saw continued fund liquidation pressure across grains, a stronger dollar and solid jobs data, while cattle recovered and crude oil retreated from recent highs.
We continue seeing fund-driven grain liquidation pressure while cattle rebound sharply after screwworm confirmation, as traders focus on weather, China demand timing, and risk.