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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A big risk off day in outside markets with more bearish bank news ahead of the Fed announcement. That caused fund selling in most of the ag markets. Plus, more favorable weather. Kevin Duling, KD Investors has more.
Mostly lower markets with spillover from risk off in DOW and oil ahead of the FOMC meeting. More favorable weather and fast planting pace also weighs on grains. Randy Martinson with Martinson Ag.
Even with the cold spring farmers in Indiana are making good planting progress, but many have been planting soybeans ahead of corn and that showed up on this week’s USDA crop progress report.
Cattle see profit taking w/risk off, plus some lower southern cash at $172. Hogs mostly lower waiting for cash to catch up. Funds sell Dec corn, will prices hold soon? Brad Kooima, Kooima Kooima Varilek.
AgDay TV Markets Now: DuWayne Bosse of Bolt Marketing says risk off fund selling and weather pull down corn and wheat, but soybean technicals more bullish.
EPA has announced it will issue an emergency waiver to allow E15 use this summer. The temporary waivers will be issued every 20 days and exempt the 15% ethanol fuel blend from volatility requirements.
Mostly Lower Except Soybeans with Risk Off Fund Selling, Bearish Weather: Profit Taking in Livestock
Lower except soybeans as risk off in outside markets triggers more fund selling. Plus, better planting weather, rain chances for HRW areas. Consolidation in cattle & hogs, watching cash. DuWayne Bosse, Bolt Marketing.
Fund selling continues in corn and wheat, with risk off including lower crude oil and bearish weather. Cattle and hogs consolidate with a higher dollar. Mike Minor, Professional Ag Marketing has details.
Lower with risk off going into the FOMC meeting. More spec selling in grains, but weather is also bearish. Cattle and hogs seeing profit taking after higher week but cash is key. Kent Beadle, Paradigm Futures.
Grain markets collapsed this past week, posting lower weekly closes on massive fund selling. Jerry Gulke says it’s the start of a major reset and the realization the U.S. is not competitive as China cancels corn buys.