Dave Chatterton, Strategic Farm Marketing, says grain are higher early Wednesday. The market has been pushed by fund short covering, lower yield ideas and better demand. However, upside may be limited especially as farmers sell on the rally. Livestock are mixed.

Randy Martinson, Martinson Ag, says he was encouraged grains were all able to close higher and build on last week’s higher weekly closes. So was it all fund short covering?

Randy Martinson with Martinson Ag says grains saw fund short covering and profit taking building on higher weekly closes. There was also some money flowing into the grains with the stock market melt down. However, buying also stemmed from weather and ideas of lower yield and crop conditions in corn and soybeans.

Bryan Doherty, Total Farm Marketing, shares what he’s looking for this week in the markets to prove last week’s higher closes in the grains wasn’t just a head fake or a bear trap.

Bryan Doherty, Total Farm Marketing, says while the technical action in the grain markets was encouraging grains need to close higher again next week for confirmation. Cattle and hogs also closed higher Friday and for the week.

Scott Varilek with Kooima Kooima Varilek says long term continuation charts for live cattle still look positive. Corn and soybeans could post higher weekly closes but he thinks it might be a bear trap.

Corn and soybeans rally Thursday putting in some weather premium but may have reached a value level which is uncovering strong end user demand.

Jeff Hoogendoorn, Professional Ag Marketing, says corn and soybean may have dialed in the biggest yield and with hot dry weather trimming yield and demand picking up the markets could see more buying.

Cattle set back on lower early cash and cutouts, while hogs turn mixed after early gains tied to strong weekly exports.

Tommy Grisafi, Advance Trading, says rain in the Corn Belt stopped a three day rally in soybeans, while corn failed even after a key reversal on Tuesday.