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.
Watch The Latest Episode on Farm Journal TV.
More from Michelle Rook
November soybean futures ended 4 1/4 higher on Tuesday with some short covering and buying on hopes of trade aid or an upcoming China trade deal according to Rich Nelson of Allendale, Inc.
Mark Knight, Farmer’s Keeper Financial, says soybeans are back higher early Tuesday on light technical buying but awaiting details of the Trump administration’s farmer aid package.
DuWayne Bosse, with Bolt Marketing says he was surprised at how well the corn market is handling the harvest pressure that is ramping up across the Corn Belt.
Brad Kooima, Kooima Kooima Varilek, says the market is staying intact and absorbing a great deal of bearish news including last week’s lower fed cash trade and lower cutouts.
USDA’s Quarterly Stocks report on Tuesday provided a bearish surprise for the corn market.
Tommy Grisafi with Nesvick Trading says corn and soybeans saw selling late in the session on harvest pressure. However, soybeans had a higher weekly close pushed by President Trump’s renewed ideas of a China deal.
Scott Varilek with Kooima Kooima Varilek says it has been another volatile week in the cattle futures but they are still trading sideways and holding the uptrend lines. Grains are pausing after hitting chart resistance.
Bryan Doherty, Total Farm Marketing, says soybeans extended gains off of Wednesday’s reversal on technical buying and short covering but with hopes of a China deal. The trade aid announced will also keep farmer selling at a minimum.
The government is shut down for a second day and so are no reports from USDA, including weekly export sales or flash sales. So what are the grain markets trading?
Randy Martinson with Martinson Ag says grains started lower Wednesday on the government shutdown but soybeans reversed higher after President Trump’s social media post on China.