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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Grains mixed on weather, export demand and pre-WASDE positioning. Cattle rebound on sharply higher beef, while deferred hogs fall with lower cash. What is the outlook for crude oil? Rich Nelson of Allendale.
Corn and beans lower on profit taking & weather initially but seeing risk off selling and that’s pulling wheat down. That has also eroded early gains in livestock. Chuck Shelby, Risk Management Commodities.
Grains and cotton mostly lower improved weather and technical selling, despite corn and soybean export sales. Risk off continues with more talk of interest rate hikes. Shawn Hackett of Hackett Financial Services.
AgDay TV Markets Now: Jim McCormick of AgMarket.Net talks about what caused the risk off day in outside and commodity markets on Tuesday.
Markets lower with a risk off day in outside markets spilling over but corn and soybeans also saw profit taking with a change in weather. Cattle confirmed the reversal. Jim McCormick, AgMarket.Net .
With the USDA Prospective Plantings and quarterly Grains Stocks reports in the rearview mirror, the market will now focus on weather for the planting season.
Cattle bounce but will they negate the reversal, and will cash be higher again? Hogs mixed. Profit taking and a change in weather pressure corn and beans. Brad Kooima of Kooima Kooima Varilek.
AgDay TV Markets Now: Randy Martinson of Martinson Ag says soybean continued rally on USDA data and following soybean and crude oil, while wheat and corn ended off highs on profit taking and hedge pressure.
Soybeans higher still working in the bullish USDA numbers and higher soybean oil. Corn and wheat end mixed on profit taking and hedge pressure. Cattle lower on consolidation. Randy Martinson of Martinson Ag.
Grains mostly higher pricing in USDA numbers and weather. Old crop corn sees farmer selling, while live cattle made new contract highs then saw profit taking and hedge pressure. Kent Beadle of Paradigm Futures.