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 of Kooima Kooima Varilek says cattle are consolidating and the live cattle charts look horrible after Friday’s poor technical action. Soybeans try to extend gains after a higher day Friday and USDA’s 1.4 bushel per acre yield cut.
Jerry Gulke, president of the Gulke Group, says the election might have brought about a paradigm shift in the approach to agricultural policies.
Alan Brugler, A and N Economics says to keep corn and soybean prices moving higher the U.S. will need to see continued demand through the end of the year, which may be difficult with the fear of tariffs.
USDA provides a bullish surprise on corn and soybean yields and ending stocks but little change on wheat. Jim McCormick, AgMarket.Net breaks down the report.
Scott Varilek with Kooima Kooima Varilek says grains are mixed ahead of the WASDE and despite more flash export sales. Cattle futures are under pressure with Choice boxes down over $6 and light cash at $188, also down from last week.
Chip Nellinger, Blue Reef Agri-Marketing, says soybeans ended with nearly 23 cent gains in the January contract on the heels of new highs for the move in the soybean oil market, spread unwinding with corn and solid weekly exports.
The good news is a Trump presidency and Republican-controlled Senate might result in fewer regulations and lower taxes. The bad news is the U.S. could be headed for a possible trade war with China and other countries.
Mark Knight with Farmer’s Keeper Financial says grains open mixed digesting strong weekly exports and positioning ahead of the FOMC announcement and WASDE.
Darren Frye, Water Street Solutions, says it was an impressive that grains, especially the soybean complex, shook off the election results, possible tariff hikes and a sharply higher dollar.
The Risk Management Agency just released official harvest prices for federal crop insurance — and they came in well below the base prices set back in February.