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Michelle Rook

National Reporter

Michelle Rook is a national agricultural reporter and market analyst for Farm Journal’s AgDay and U.S. Farm Report, and she is the host of Markets Now. With expertise in commodity markets, grain trading, and agricultural journalism, she delivers daily market updates and analysis to farmers nationwide. She earned the NAFB Farm Broadcaster of the Year award and the prestigious Doan Excellence in Reporting Award.

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Ted Seifried with Zaner Ag Hedge says after 10-cent gains on Friday the corn market saw some profit taking but also report hangover. The September WASDE was bearish for the corn market and traders had the weekend to finally let that soak in.
Joe Kooima of Kooima Kooima Varilek says live and feeder cattle futures are higher early Monday but after a second week of lower weekly closes, he’s not sure if the market can retest the highs.
Jerry Gulke, president of the Gulke Group, says USDA also confirmed record demand at 16.1 billion bu. That estimate struck him as one of the most important parts of the September report.
Chip Nellinger with Blue Reef Agri-Marketing says corn rallied on Friday in reaction to USDA’s 2.1 bu. per acre yield cut to 186.7 bu. cut he thinks there are bigger cuts yet to come.
Market analysts says the September WASDE did not fully account for the disease pressure and dry finish in the East in both the corn and soybean crop.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures are higher again on Friday morning with the third day of recovery after Tuesday’s melt down. They need to close above Thursday’s highs to have a shot at retesting the record highs.
Garrett Toay with AgTraderTalk says while he thinks the corn and soybean crops are getting smaller he’s not sure if it will be reflected in the September WASDE.
Mike Minor of Professional Ag Marketing says last year USDA raised yield .5 bu. in the September report and left soybean yield unchanged, despite dry conditions to finish the crop.
Darren Frye with Water Street Solutions says grains saw technical selling pressure ahead of the WASDE. The agency doesn’t normally make huge changes in the September report and the market may be more worried about demand than supply.
Craig Turner with StoneX says corn and soybeans drifted early Wednesday ahead of the September WASDE as the market tries to determine how much USDA will lower yield.