Markets Now
National reporter Michelle Rook talks daily with industry analysts to break down crop and livestock commodity markets. Listen below to learn what’s happening with the markets when they open, at midday and again at close.
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Joe Kooima of Kooima Kooima Varilek says cattle and hogs are struggling Thursday with the set back in the equity markets.
The survey of farmers in 26 states mirrored the projections from USDA’s Ag Outlook Forum in February.
Dave Chatterton with Strategic Farm Marketing says the ongoing Iran war and higher crude oil prices helped drive speculative buying interest in grains.
Brady Huck from Empower Ag Trading says, “After the volatility that we’ve seen over the last couple of weeks, sometimes these markets just need to find some stability.
Randy Martinson with Martinson Ag says the limit down day in old crop soybeans was tied to the fear that the meeting between President Trump and President Xi scheduled for China at the end of the month will be delayed due to the war.
Brad Kooima with Kooima Kooima Varilek says there were a couple of reasons the market ignored the strike and the biggest was the higher equity markets and lower crude oil
While USDA predicts a shift to soybeans, spiking input costs and Middle East supply gaps have Northern growers weighing corn’s yield potential against a volatile fertilizer market.
Jerry Gulke, president of the Gulke Group, says the recent strength in the corn market is not a result of the Iran war or higher corn prices, but a paradigm shift that happened 18 months ago.
Wheat was the price leader on Friday mostly on technical buying according to DuWayne Bosse with Bolt Marketing.
Cattle futures are higher early Friday in tandem with the bounce in the equity markets and the pull back in crude oil and the energy markets according Scott Varilek of Kooima Kooima Varilek.