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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The poultry industry is one of the biggest demand drivers for corn and soybean meal, but HPAI is eating into sales.
Jim McCormick with AgMarket.Net says the grain markets made new lows for the move on fund liquidation and technical selling pressure tied to trade retaliation by Canada, Mexico and China.
After several weeks of being bullish on corn, Jerry Gulke, president of the Gulke Group, bought protection against downside risk in the market. What changed his mind? It was signs he saw even before USDA released it’s corn acreage at the Ag Outlook Forum.
Shawn Hackett, Hackett Financial Advisors, says the technical selling pressure hit commodity and outside markets and was tied to uncertainty regarding tariffs being placed on Canada and Mexico on March 4 and bearish economic news.
Joe Kooima, Kooima Kooima Varilek, says the grain markets bounced overnight and saw a higher opening but funds used that strength to liquidate or sell more contracts.
Darren Frye, Water Street Solutions, says corn, wheat and hogs reacted negatively to the 25% tariffs being imposed on Canada and Mexico on March 4.
Allison Thompson with The Money Farm, says corn and wheat are reacting negatively to the breaking news that 25% tariffs will not be delayed and will go into effect on March 4 on Canada and Mexico and larger acreage estimates from USDA.
Mark Schultz, Northstar Commodity, says grains saw pressure on the continued on again off again new regarding tariffs.
Craig Turner with StoneX says corn tries to hold early gains after bouncing off chart support Tuesday but may struggle with soybeans and wheat falling on tariff fears and liquidation ahead of first notice day.
Vince Boddicker with Farmers Trading Company says grains saw pressure early Tuesday on tariff fears and fund positioning end of month but ended well off of lows.