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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Scott Varilek with Kooima Kooima Varilek says Thursday saw the volume of live sale prices at $220, up $10 from last week but even some $222 developed in Iowa.
Tommy Grisafi with Nesvick Trading says bull markets need to be fed daily and so corn and soybeans would need a combination of factors to converge to retest the November highs.
Vince Boddicker with Farmers Trading Company says grains took the path of least resistance on Wednesday trading lower with a lack of fresh bullish news.
Corn and wheat futures were lower early Wednesday seeing some profit taking after a higher close Tuesday says Darin Newsom, senior market analyst with Barchart.
Darren Frye with Water Street Solutions says the market was adding some geopolitical risk premium with tensions rising in the Black Sea region.
Randy Martinson with Martinson Ag says so far its estimated China purchased 3 MMT but in order for China to keep on pace it would need to buy over 2 MMT a week through the end of 2025.
The entire grain complex saw profit taking Monday after hitting chart resistance according to Allison Thompson with The Money Farm.
Brad Kooima of Kooima Kooima Varilek says he would be more confident about the lows holding in the cattle futures if three factors would turn positive.
The question now is was this just a correction of the oversold status in the cattle markets? While a higher weekly close is positive, Varilek says recoveries often come in three day waves.
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