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
Grains up on fund buying, putting in weather premium w/drop in crop ratings, but soy products are also pushing beans. Cattle consolidate w/higher corn, hogs mixed. Tomm Pfitzenmaier, Summit Commodity Brokerage.
Cattle correcting today and the top may be in short term says Brad Kooima of Kooima Kooima Varilek. What will cash do this week? Has the hog rally run its course? Corn, beans rally on drop in crop ratings, weather.
AgDay TV Markets Now: Arlan Suderman of StoneX says row crops trade dryness concerns with disappointing rains, sliding conditions but at what point agronomically does it really impact corn yield?
New crop corn and beans up on weather but Arlan Suderman, StoneX says yield loss talk is premature. Wheat ends mixed. Cattle could retest highs with more record cash and hogs build on the higher weekly closes.
Corn and Nov soybeans higher on weather concerns, ideas of lower crop ratings. Wheat mixed with poor demand. Live cattle rebound but will they retest the highs if cash is up this week? Randy Martinson, Martinson Ag.
Corn and new crop soybeans up on dry weather and ideas of lower crop ratings. Wheat mixed on spreads. Live cattle see short covering w/strong beef values and cash pushes hogs. Kent Beadle, Paradigm Futures.
The June WASDE confirmed grain poor demand and growing U.S. supplies.
AgDay TV Markets Now: Jim McCormick with AgMarket.Net says the U.S. will need a major crop problem to overcome the poor demand in the June WASDE.
The WASDE made only adjustments but confirmed the U.S. isn’t competitive. So, grains turned traded weather, beans rallied with soybean oil. Cattle and hogs tried to recover. Jim McCormick. AgMarket.Net.
Corn, wheat lower w/35 mb increase in new crop corn carryover, 6 mb in wheat, but the focus is on a wetter forecast. Soybean carryout up 15 mb but export biz, higher BO support. John Heinberg, Total Farm Marketing.