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, Martinson Ag, says corn saw some early strength bouncing off support areas on the charts but is struggling to hold gains due to mostly favorable extended weather forecasts.
Dan Basse, president, Ag Resource Company, says the grain markets faded the announcements regarding three trade deals, including Japan, due to the lack of details.
Market analysts attribute the strong beef demand to several factors including the consumer craze for protein.
Bryan Doherty with Total Farm Marketing says soybeans are seeing a slight bounce early in the session on trade news.
Eric Snodgrass, senior science fellow, Nutrien Ag Solutions says nighttime temperatures in areas of the Corn Belt could set new records which may have a negative effect on corn pollination. In fact, there’s evidence the record hot evenings the last 45 days have already taken a toll.
Rich Nelson of Allendale, Inc. says funds returned to sell in corn and soybeans on weak technicals, weather and crop ratings.
Mike Minor, Professional Ag Marketing, says corn and soybeans continue to see fund selling and broke below key moving averages Tuesday morning.
Corn, soybeans and wheat ended lower on Monday seeing some profit taking after higher weekly closes in the grain complex last week according to Darren Frye, Water Street Solutions. Weather was also a factor.
Brad Kooima with Kooima Kooima Varilek says the cattle futures opened lower on Monday on follow through selling after the bearish reversals scored on Friday. Corn and soybeans fall with rains over the weekend in the Corn Belt.
Jerry Gulke, president of the Gulke Group, says corn made a bullish weekly reversal and that technical action could signal a bottom in the market.