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
Funds sell in corn & wheat on poor exports, soybeans bounce with meal & a cut in Argentina, but is this also report positioning? Cattle rebound despite lower cash, hogs fail on Prop 12 news? Darin Newsom, Barchart.
Live cattle see more selling on outside markets, lower So. cash at $170. Hogs up on strong exports, higher cash. Grains down on poor exports, bearish WASDE. Scott Varilek, Kooima Kooima Varilek has details.
AgDay TV Markets Now: Mike Minor of Professional Ag Marketing says corn hold support while funds sell in soybeans ahead of WASDE with bearish anticipation.
High water levels and flooding are starting to ease on the upper Mississippi River which is allowing locks to reopen and barge traffic to resume.
Grains mostly lower except corn, with short covering after holding last week’s lows as markets for the WASDE Report. Cattle and hogs see profit taking w/bearish outside markets. Mike Minor, Professional Ag Marketing.
Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Live cattle mixed awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag.
Wheat under pressure as inspections resume in the Black Sea and some rain chances in HRW areas. Corn and soybeans bounced off support with no China cancellations, WASDE positioning. Nick Tsiolis, Farmer’s Keeper.
Planting has been going full steam the last two weeks in Iowa and farmers now have 70% of the corn and 49% of the soybeans planted which in both cases are nearly 20% ahead of average.
AgDay TV Markets Now: Garrett Toay of AgTraderTalk says corn and beans see fund selling with fast planting, China cancellation and positioning for WASDE. However, he thinks markets may be too bearish.
Grains mostly lower except hard wheat classes w/technical selling on China cancellations, fast planting, WASDE positioning. Cattle saw short covering on better cash ideas, w/hogs also up. Garrett Toay, AgTraderTalk.