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
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.
Allison Thompson with The Money Farm, says it was a lower week in the grains on a combination of technical selling, weather and trade uncertainty.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are chasing exploding cash early Friday, with more record high prices paid in all areas. Corn and soybeans continue to be weak with mostly favorable weather.
Kent Beadle of Paradigm Futures says, unlike the financial markets, the ag futures did not see the positive reaction to the ITC court ruling declaring the “Independence Day” tariffs as illegal.
Darin Newsom, Barchart, says the financial markets have reacted positively to the International Trade Commission’s court ruling against the Trump tariffs, declaring them unlawful. However, the ag markets are disregarding the news.
Matt Bennett with AgMarket.Net says corn and soybeans saw heavy technical or fund selling pressure on Wednesday, some of it in the grains was tied to weather.
Recent rumors put volumes for biomass-based diesel at 4.65 billion gallons, but Paul Winters, director of public affairs, Clean Fuel Alliance America, says EPA has assured them that number is false.