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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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.
The use of regenerative practices at Stoney Creek Farm has lowered their costs and improved their profitability, but its also shaped their faith journey.
DuWayne Bosse with Bolt Marketing says grains staged a surprise rally on news of China soybean buys but farmer selling pressure also subsided ahead of first notice day on Friday.
Hillari Mason with Pro Farmer says farmers had to roll or sell December futures or basis fixed contracts before Wednesday or risk delivery and so most of the commercial positioning is done which will take pressure off the market.
Mike Zuzolo with Global Commodity Analytics says the grain complex also saw some buying interest on the lower U.S. dollar index, which reacted to U.S. economic data.
Jamie Gieseke with Paradigm Futures says the weakness in the grain markets last week and to start this week was tied to liquidation and pricing of basis fixed contracts against December futures before the delivery period starts. Once that’s out of the way what is the next move?
Dave Chatterton with Strategic Farm Marketing says the soybean market is tired of rhetoric and wants to see results in the form of sales to China.