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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John Heinberg, Total Farm Marketing, says corn and soybeans see pressure from the fast planting progress and an open weather forecast next week, plus first notice day positioning.
Alan Brugler, A&N Economics, says wheat and corn ended lower but soybeans rebounded after early pressure. Cattle made more contract highs.
Brad Kooima, Kooima Kooima Varilek, says grains are seeing pressure on weather. However, both live and feeder cattle futures are making new contract and all-time highs on last week’s record cash.
Jerry Gulke, president of the Gulke Group, says, “Soybeans have been the surprise and there are several factors that have allowed that market to remain resilient.”
Don Roose, U.S. Commodities, says grains had a quiet day as they were also consolidating around strike prices as it was May option expiration.
Scott Varilek, Kooima Kooima Varilek, says live cattle traded two-sided early Friday as the market awaits larger scale cash development with stronger prices anticipated. Grains are quietly mixed.
Darin Newsom, Senior Market Analyst with Barchart, Inc., tries to explain the higher day in the grains, especially soybeans, with the bearish Chinese trade news. So, what drove the rally?
Mike Minor, Professional Ag Marketing, says grain and livestock futures are seeing consolidation with an eye on China trade news, exports and weather.
Matt Bennett, AgMarket.Net, says soybeans rallied with the tailwind of more talk of Chinese tensions easing and May closed above key 200-day moving average resistance.
Allison Thompson, The Money Farm, says soybeans are seeing follow through buying on Wednesday with the de-escalation of the China trade war.