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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Brad Kooima, Kooima Kooima Varilek, says cash cattle trade was record high again last week with $223 live paid in much of the North and even a few $224 trades to a regional. Grains are mostly lower.
Jerry Gulke, president of the Gulke Group, says there are several factors that indicate to him the chance to rally old crop corn to $5 is over.
Oliver Sloup, Blue Line Futures, says there was risk on buying across the commodity and financial markets due to more positive trade news and economic headlines.
Scott Varilek, Kooima Kooima Varilek, says cattle futures continue to hold strong with more record cash. While grains are also in the green on value buying and trade hopes.
Kevin Duling, KD Investors, says soybeans see a bounce Thursday after four down days on technical buying and with help from soybean oil.
Randy Martinson, Martinson Ag, says corn and wheat futures are seeing some technical buying with first notice day and end of month positioning out of the way.
Craig Turner, grain and oilseed analyst with StoneX, says corn and wheat saw corrective buying as it was end of the month and past first notice day for May futures.
DuWayne Bosse, Bolt Marketing, says corn and wheat are seeing end of the month short covering and some pressure taken off now that First Notice Day is in the rear view mirror.
Vietnam has a 100 million people and a growing middle class looking to add protein to their diet. With limited soybean crushing capacity, the country currently depends on soybean meal imports for their livestock and aquaculture feed needs.
Allison Thompson with The Money Farm says a combination of bearish factors combined to pressure the grain markets Tuesday including the fast planting pace.