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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Mike Zuzolo, Global Commodity Analytics, says soybeans saw risk off selling as China aligned itself with Russia and India, which signals no deal between the U.S. and China any time soon.
Crops in parts of the Corn Belt may have run out of gas with the onset of flash drought. As a result, the crop may be going backward from USDA’s August estimates.
Brad Kooima of Kooima Kooima Varilek says live and feeder cattle futures are back into new contract and all-time highs after showing considerable resilience last week and despite a selloff in the equities. Grains sell off on tariff concerns.
Gulke says next week’s action in corn futures is important because a continued rally could provide the first buy signal in the corn market in over six months.
Chip Nellinger, Blue Reef Agri-Marketing, says grains rallied with corn leading the charge on end of month short covering and ahead of a long holiday weekend.
Scott Varilek with Kooima Kooima Varilek says live and feeder cattle futures saw end of month profit taking on Thursday and some follow through selling to start Friday.
Don Roose, U.S. Commodities, says grain futures all ended slightly higher Thursday with end of month positioning and profit taking.
With $8 cash soybean bids in the Dakotas and Minnesota, and no bids for fall in a few markets, farmers might need to break the norm and store soybeans.
DuWayne Bosse with Bolt Marketing says the grain markets saw selling pressure from a stronger dollar and some liquidation ahead of first notice day on Friday and on end of the month liquidation.
Mark Knight of Farmers Keeper Financial says corn is drifting lower with some end of month profit taking and after having digested the lower yield estimates from the Pro Farmer crop tour.