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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Darin Newsom, Senior Market Analyst with Barchart, says wheat is higher for a third day seeing short covering and adding risk premium with tension escalating in the Black Sea and threats by Russia to use nuclear weapons.
Ted Seifried, Zaner Ag Hedge, says wheat led the rally in the grains initially on a weaker dollar and adding geopolitical premium.
Brad Kooima, Kooima Kooima Varilek, says live cattle have held chart support so far even with lower cash and cutouts but feeders are the real leaders as funds continue to buy. Grains find strength on wheat’s lead and with a lower dollar.
Naomi Blohm, Total Farm Marketing, says grains held technical support areas on Friday and saw corrective buying. She thinks the recovery can continue after Thanksgiving.
Scott Varilek, Kooima Koomia Varilek, says cattle try to recover after a lower day Thursday following lower cash and cutouts. Grains are also trying to recover with some corrective buying.
Randy Martinson, Martinson Ag, says the risk off commodity wide selling was tied to new highs for the year in the dollar index and renewed fears about tariffs and a trade war.
Vince Boddicker, Farmers Trading Company, says grain markets are trading lower for a 4th day as technical and risk off selling accelerates and a higher dollar adds pressure.
Shawn Hackett of Hackett Financial Advisors says the weakness in grains is coinciding with the strength in the dollar in what he calls the “Trump Effect”.
DuWayne Bosse of Bolt Marketing says pressure in grains is coming from a higher dollar, lower crude oil, Trump’s political appointments and weather.
Chuck Shelby, Risk Management Commodities, says grains saw profit taking and technical selling across the complex and also reacted to the strength in the dollar.