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: Don Roose, U.S. Commodities talks about the factors that rallied the wheat market Wednesday, including corrective buying and crop concerns, and why corn and beans faded into the close.
Wheat up on wx, harvest concerns, Ukraine nuclear plant threat. Row crops hold gains digesting acreage & wx. Profit taking hits cattle after new highs, hogs follow higher cash & cutouts. Don Roose, U.S. Commodities.
Wheat up w/dryness concerns in HRS & slow HRW harvest. Corn & beans see profit taking. Feeders make contract highs, live cattle consolidate and hogs follow higher cash, cutouts. Mark Schultz, Northstar Commodity.
Soybeans higher digesting lower acres but end off highs on profit-taking, corn & wheat lower. Feeders make contract highs, LC see profit taking, bull spreads continue in hogs. Chip Nellinger, Blue Reef Agri-Marketing.
The USDA reports provided a bullish surprise for soybeans with acreage down 4 million from the March intentions. Corn acreage was bearish coming in more than 2 million higher than March. Where did the shifts occur?
AgDay TV Markets Now: Matt Bennett, AgMarket.Net discusses where ending stocks and prices project to for corn and soybeans after USDA’s shocking shift in acres.
USDA’s June Acreage and Quarterly Stocks reports resulted in a bullish surprise for soybeans and bearish news for corn. In an already volatile grain market, the supply situation is problematic.
Soybeans ended sharply higher with a 4 ma cut so where does that put ending stocks? Corn picked up another 2 ma so will that be offset by yield? Cattle soared on the lower corn. Matt Bennett with Ag Market.Net.
USDA reports had a bullish surprise for soybeans w/around 4 million less acres & lower stocks, but bearish for corn with 94.1 ma. Wheat acreage and stocks slightly lower acreage. John Heinberg, Total Farm Marketing.
Grains higher on corrective bounce, positioning pre-report and assessing storm damage and weather. Live cattle supported by steady cash in the north, hogs work in bearish report numbers. Randy Martinson, Martinson Ag.