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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Arlan Suderman of StoneX says while the focus of the WASDE report continues to be yields, he thinks there are some underlying factors that are more important.
Brad Kooima of Kooima Kooima Varilek says live cattle failed at the 50% retracement levels, even with higher cash trade. So, what will it take to get through those resistance areas on the futures?
Jerry Gulke, president of the Gulke Group, says with the amount of variability in this year’s crop it makes yields difficult to determine. So, he suggests producers do some risk management before the August WASDE.
DuWayne Bosse with Bolt Marketing says corn and soybeans traded both sides of steady on Friday gearing up for the WASDE.
Scott Varilek with Kooima Kooima Varilek says cattle futures hit resistance on the charts despite higher cash. So what will it take to get through those resistance areas?
Mike Castle of StoneX says with a lack of any major news, corn and soybeans saw a bit of positioning ahead of the Aug. 12 WASDE Report
Allison Thompson with The Money Farm says grains are drifting quietly lower with no fresh new news and awaiting the WASDE.
Kevin Duling with K.D. Investors says corn and soybeans are keying off of private estimates which are raising yields, especially for corn.
Randy Martinson with Martinson Ag says there is more rain in the forecast for most of the Corn Belt in the extended. Plus, private yield estimates are weighing on corn and soybeans.
Chuck Shelby of Zaner Ag Hedge says the grain markets tried to extend gains in the overnight session and hit chart resistance causing consolidation.