Hog Prices-Markets

Jim McCormick, AgMarket.Net, says corn saw a dead cat bounce with 3-cent gains on light short covering and solid export news.

Randy Martinson, Martinson Ag, says corn saw some early strength bouncing off support areas on the charts but is struggling to hold gains due to mostly favorable extended weather forecasts.

Rich Nelson of Allendale, Inc. says funds returned to sell in corn and soybeans on weak technicals, weather and crop ratings.

Mike Minor, Professional Ag Marketing, says corn and soybeans continue to see fund selling and broke below key moving averages Tuesday morning.

Corn, soybeans and wheat ended lower on Monday seeing some profit taking after higher weekly closes in the grain complex last week according to Darren Frye, Water Street Solutions. Weather was also a factor.

Brad Kooima with Kooima Kooima Varilek says the cattle futures opened lower on Monday on follow through selling after the bearish reversals scored on Friday. Corn and soybeans fall with rains over the weekend in the Corn Belt.

Don Roose, U.S. Commodities, says grain markets rallied Friday and were higher for the week. The markets saw technical buying and short covering as traders were adding weather premium in the corn market, and to some degree to soybeans. But is weather enough to bottom the market?

Vince Boddicker, Farmers Trading Company, says corn is extending gains for a third day still seeing short covering. However, the corn and soybeans markets are adding some weather premium with extended forecasts looking hotter in the 11-15 day time period.

Kent Beadle, Paradigm Futures, says corn and soybeans are seeing some pressure from weather and Monday’s strong crop ratings. Cattle recover with their discount to cash.

Brad Kooima of Kooima Kooima Varilek says cattle futures are seeing some routine profit taking after hitting all-time and record highs again on Friday. Corn is seeing short covering off fresh contract lows but can it hold any gains?