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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The SAF guidance was more stringent than the biofuels industry hoped for. Eligibility requires carbon capture or farmers adopting Climate Smart Ag practices. However, they consider use of the GREET model a victory.
Brad Kooima, Kooima Kooima Varilek, says cattle are trading more H5N1 headlines and disregarding higher cash, hogs are following. Grains are adding weather premium, but he cautions weather rallies are fleeting.
Don Roose, U.S. Commodities, says grain markets are trading weather and have had some chart breakouts. That could keep funds buying but only if weather continues to be bullish.
Corn, soybean and soybean meal futures posted higher weekly closes, but it’s hard to predict how far the grain markets could rally, says Jerry Gulke. “Now it becomes more of an art than a science,” he adds.
Grains ended higher on Friday with chart breakouts on weather and crop concerns, plus fund short covering. Cattle mixed, hogs. lower.
Grain markets have been rallying this week on weather and crop concerns and it’s not just wheat. Eric Snodgrass, Senior Science Fellow, Nutrien Ag Solutions, talks about Northern and Southern Hemisphere weather.
Grains continue higher with weather concerns in the U.S. and SA, a lower dollar and funds are covering shorts with the stronger technical action says Darin Newsom with Barchart. Will the funds eventually buy grains?
John Payne, Advance Trading, says soybeans and soybean meal led the grain rally Thursday on short covering and adding weather premium with heavy rains and flooding in southern Brazil and parts of Argentina.
John Payne, Advance Trading says grains rally on fund short covering and weather, with a higher day in cattle and lower close in cotton....again.
Cattle rally after negative tests for H5N1 in ground beef and improving cash says Scott Varilek, Kooima Kooima Varilek. Grains are putting in weather premium, is a chart breakout in the works?