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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John Heinberg, Total Farm Marketing says wheat had a chart breakout Tuesday and follow through buying will be important Wednesday. Meanwhile, corn and soybeans see Turnaround Tuesday on planting progress.
Wheat made new highs for the move on Tuesday. John Heinberg, Total Farm Marketing, says Wednesday’s close will be important to see if there is follow through buying to keep the rally going. Corn and beans consolidated.
Winter wheat continues to rally on global production concerns and fund buying. Corn and beans are seeing corrective and farmers selling on planting progress. Cattle strong. DuWayne Bosse, Bolt Marketing, has details.
Mike Zuzulo, Global Commodity Analytics, says the wheat market is taking its cue from the Paris wheat futures which is pricing in production concerns in the Black Sea and Europe.
Wheat resumes its weather rally on global production concerns, pulling up corn and soybeans. Cattle take a breather despite higher cash. Hogs struggle on China news. Mike Zuzulo, Global Commodity Analytics, has more.
Cattle futures pulled up by last week’s strong cash, cutouts. Hogs try to bounce. Grains add weather premium but can markets get above last week’s chart resistance? Brad Kooima, Kooima Kooima Varilek, has insight.
Jim McCormick, AgMarket.Net, says corn and wheat saw technical selling and profit taking for the last four sessions after running into chart resistance. It could be seasonal top without fresh weather concerns.
Jim McCormick, AgMarket.Net, says corn and wheat futures tried to rally several sessions and ended lower after running into chart resistance. That could be a seasonal top unless there is a bigger weather story.
Cattle futures make near term highs pushed by higher cash and cutouts. Hogs fail with the futures premium to the LHI. Scott Varilek, Kooima Kooima Varilek has details. Corn needs to hold key support, soybeans run.
Grains end mostly lower except nearby soybeans and bean oil. Mike Minor, Professional Ag Marketing, says this may just be just a routine consolidation as the market waits for a bigger weather story to emerge.