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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More from Michelle Rook
Jerry Gulke, president of the Gulke Group, says in the report USDA finally rectified the old crop corn carryover figure trimming it by 100 million bushels with an increase in demand.
Grains higher post-WASDE. U.S. numbers came in friendly for corn, neutral for wheat but bearish for soybeans. So, is the market trading the report or is it fund short covering? Matt Bennett, AgMarket.Net, has more.
Cattle and hogs both try to bounce but the cattle market lacks confidence due to bird flu says Scott Varilek, Kooima Kooima Varilek. Grains higher but can those gains hold in the face of a potentially bearish WASDE?
Tommy Grisafi, Advance Trading, says grain prices are well off their lows on crop concerns but he cautions farmers weather markets can be volatile and fleeting.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says the early new crop estimates for the May WASDE are larger than last year which is potentially bearish, but still in line with the USDA Ag Outlook Forum.
Arlan Suderman, ,StoneX, says the rally into new highs for the move was met with farmer selling and funds took a pause heading into the WASDE, but they may not be done lightening their short position.
Grains ease on Tuesday on farmer selling and lack of fund buying. Arlan Suderman with StoneX says weather concerns may be priced in until after the WASDE.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says grains mixed as fund buying pauses and with increased farmer selling. Markets are watching weather, WASDE. Livestock see a Turnaround Tuesday bounce.
Tommy Grisafi, Advance Trading, says it’s the combination of weather and production concerns globally and in the U.S. that have finally caught the grain market’s attention and will dictate how high prices go.
Grains rally on weather and technical buying. Will funds keep covering their short positions with the chart breakouts and what kind of rally could that produce? Tommy Grisafi, Advance Trading, has answers.