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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AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing, says corn and soybeans on short covering and he thinks the funds may continue to cover short positions into the end of the month.
Jerry Gulke says he’d like to see another higher weekly close next week to help confirm the bottom is in the soybean market as well as a close above $12. A higher monthly close would be even more convincing.
Cattle try to recover after reversals Thursday with record cash trade. Is this topping action? Hogs also bounce. Grains mixed after poor technical closes, awaiting news. Scott Varilek, Kooima Kooima Varilek, has more.
AgDay TV Markets Now: Jim McCormick, AgMarket.Net, discusses why grain and livestock futures had a bad day.
Grains end lower, even soybeans after a big rally. Cattle also had a poor technical close after live cattle made new near-term highs. So, was this risk off or hedge selling? Jim McCormick, AgMarket.Net, has more.
Grains all lower midday even soybeans after pushing above $12 in the May contract. Allendale also releasing their annual acreage survey, we look at the results with Rich Nelson and why cattle failed.
Wheat is lower and dragging corn with it, while soybeans and products extend gains. Cattle higher with live cattle making near term highs and so is crude oil. Darin Newsom, Barchart, has analysis.
AgDay TV Markets Now: Don Roose, U.S. Commodities says grain markets have priced in the most bearish news and are adding risk premium. However, what will it take to get corn over $4.50 and soybeans over $12?
Corn & soybeans end steady after hitting chart resistance. But Don Roose, U.S. Commodities, says they’re adding risk premium. Wheat fell with China cancelling French wheat. Live cattle make new highs as hogs stall.
Grains see early pressure with profit taking, farmer selling. Wheat sees pressure from lower Russian wheat prices. Cattle extend gains. Hogs see profit taking, hedge pressure. Kent Beadle, Paradigm Futures, has more.