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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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Corn, soybeans and wheat ended lower on Monday seeing some profit taking after higher weekly closes in the grain complex last week according to Darren Frye, Water Street Solutions. Weather was also a factor.
Brad Kooima with Kooima Kooima Varilek says the cattle futures opened lower on Monday on follow through selling after the bearish reversals scored on Friday. Corn and soybeans fall with rains over the weekend in the Corn Belt.
Jerry Gulke, president of the Gulke Group, says corn made a bullish weekly reversal and that technical action could signal a bottom in the market.
Don Roose, U.S. Commodities, says grain markets rallied Friday and were higher for the week. The markets saw technical buying and short covering as traders were adding weather premium in the corn market, and to some degree to soybeans. But is weather enough to bottom the market?
The industry is seeking clarity after President Trump said Coca-Cola was switching its Coke formula to use cane sugar versus high-fructose corn syrup. If true, the move would benefit U.S. sugar producers at the expense of corn farmers.
Scott Varilek of Kooima Kooima Varilek says cattle futures saw some routine profit taking Thursday and early Friday despite some strong cash trade but the market feels heavy. Grains are rallying on weather or is it technical?
Naomi Blohm with Total Farm Marketing says corn took a break after a three-day rally running into chart resistance in the December contract around $4.25.
Randy Martinson, Martinson Ag, says corn tried to move higher early Thursday but the December contract is running into chart resistance with the 20-day moving average at $4.25. Can weather help the market get above this level?
Ted Seifried, Zaner Ag Hedge, says corn and to some degree soybeans, were adding weather premium as some heat comes is predicted for much of the Corn Belt in the extended forecasts. However, talk of China business also stirred up the trade.
Vince Boddicker, Farmers Trading Company, says corn is extending gains for a third day still seeing short covering. However, the corn and soybeans markets are adding some weather premium with extended forecasts looking hotter in the 11-15 day time period.