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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Jeff Hoogendoorn, with Professional Ag Marketing, says hogs ended mixed Wednesday, consolidating after the recent rally driven by higher cash and cutouts. While soybeans rallied after the Trump/Xi call.
Mark Knight with Farmers Keeper Financial says grains opened higher on news of a call between President Trump and Chinese President Xi then traded on both sides of steady.
Tommy Grisafi of Nesvick Trading says it was a risk on day in the grains as they attempted to add weather premium on the hot, dry extended forecasts. “I feel like these markets have very little if any weather premium.”
Kevin Duling with KD Investors says corn and soybeans are building on the reversals scored on Tuesday after corn made new lows for the move and then bounced. Wheat is reluctantly following.
Don Roose, U.S. Commodities, says corn and soybeans finally bounced Tuesday after closing lower for several days. He says both markets were adding risk premium and scored reversals.
DuWayne Bosse, Bolt Marketing, says soybeans are higher with news that President Trump and President Xi are going to be meeting soon, and that is pulling up corn.
Brian Grete, Pro Farmer Editor, says soybeans roll over and make new lows for the move on China U.S. trade tensions, which weighed on corn.
The recommendations in the recent report could impose steep economic and environmental costs on U.S. farmers by limiting access to glyphosate and atrazine for weed management.
Brad Kooima, Kooima Kooima Varilek, says cattle rally chasing record cash with the basis historically wide.
The grain markets were lower for the week, except for hard red spring wheat. Jerry Gulke, president of the Gulke Group, says he thinks the pressure was largely in response to this week’s surprising trade developments.