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.
Watch The Latest Episode on Farm Journal TV.
More from Michelle Rook
Row crops recovered on Tuesday, while cattle posted another lower day. Brad Kooima, Kooima Varilek says all those markets saw corrective action.
Live cattle futures fall a second day in what Brad Kooima of Kooima Kooima Varilek calls routine profit taking. Row crops see a technical bounce with lower crop ratings.
Bryan Doherty, Total Farm Marketing, says corn and soybeans try to bounce as they are technically oversold and with a 2% drop in crop ratings, wheat tries to follow but fails.
Grain markets were sharply lower on Monday on fund selling and improved extended weather forecasts for the Eastern Corn Belt says Kent Beadle, Paradigm Futures
Grains were sharply lower on fund selling, but row crops were also pressed by extended weather. Kent Beadle, Paradigm Futures, says technical damage has been done on grain charts. While livestock saw consolidation.
Chuck Shelby, Risk Management Commodities, says grains will be watching weather and gearing up for the USDA Acreage and Quarterly Stocks Reports in the week ahead.
A lackluster WASDE report had the same effect on the markets this week. Jerry Gulke, president of the Gulke Group, doesn’t think there’s going to be a whole lot of change in acreage in USDA’s report at the end of June.
Chuck Shelby, Risk Management Commodities, says grains end lower. Row crops see profit taking, with harvest pressure in wheat. Cattle made new near-term highs pushed by record cash, hogs bounce.
Darin Newsom, Senior Market Analyst at Barchart, says grains down early on profit taking and hedge pressure in wheat, but watching weather and demand. Cattle continue higher following cash.
Scott Varilek, Kooima Kooima Varilek, is still optimistic the cattle market will be able to achieve all-time highs again in both cash and futures in the next few months.