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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Corn and soybeans close higher Wednesday, with wheat and livestock lower. Ted Seifried, Zaner Ag Hedge, recaps the action plus talks about why the stock market rallied after interest rates were left unchanged.
AgDay Markets Now: Ted Seifried, Zaner Ag Hedge, says corn and soybeans saw a technical bounce Wednesday, with profit taking in wheat.
Chuck Shelby, Risk Management Commodities, says wheat is consolidating and pulling down corn. When will the grain markets become concerned about weather?
Kent Beadle, Paradigm Futures, says soybeans, bean oil and wheat tank on heavy deliveries and fast planting progress.
A lower day in the grains on heavy deliveries, fast planting and some end of month squaring. Kent Beadle, Paradigm Futures says cattle were also lower following the stock market and H5N1 headlines.
Grains lower on profit taking, heavy deliveries of BO and CH wheat, plus faster than expected planting pace. USDA’s ground beef testing for bird flu is weighing on cattle. Randy Martinson, Martinson Ag, has more.
Shawn Hackett, Hackett Financial Advisors says wheat finally saw profit taking on Monday and was due for a correction. Soybeans ended slightly higher, pushed by meal.
Winter wheat sees some profit taking Monday pulling down corn. While Shawn Hackett, Hackett Financial Advisors says soybeans follow meal higher. Profit taking in cattle. And what’s driving the rally in metals?
Cattle start higher on strong cash before end of month profit taking sets in. Corn and wheat also consolidate with an eye on weather while soybeans move higher. Brad Kooima, Kooima Kooima Varilek has details.
Darren Frye, Water Street Solutions, says the wheat rally came on weather and technical buying, which also helped corn and soybeans post a higher week. He’s not sure it can continue without a bigger weather issue.