The grain markets have taken over the spotlight after a bullish USDA report and renewed geopolitical concerns, according to Martinson Ag Risk Management President Randy Martinson. Martinson says wheat has become the market leader as escalating conflict involving Russia, Ukraine and Iran raises concerns about global grain logistics. He also points to USDA’s more supportive-than-expected wheat and corn numbers, along with growing weather concerns as corn enters pollination and soybeans advance through key development stages. Meanwhile, the cattle market has moved into the “not hot” category. Martinson says higher crude oil prices and concerns that interest rates could rise are weighing on cattle futures, even though cash fundamentals remain strong due to tight supplies. Those same economic concerns are also putting pressure on the stock market. Click here to listen to this week’s full report.
