Markets - General
So far, 12 states out of the 18 total reporting acres of corn planted are ahead of the five year average.
Grains retreat in the early morning trade after failing to gain ground to start the week. These are the levels to watch for today’s trade.
Cattle futures continue to reject resistance. With headline risk lingering will the selling continue?
Shawn Hackett, Hackett Financial Advisors says wheat finally saw profit taking on Monday and was due for a correction. Soybeans ended slightly higher, pushed by meal.
Winter wheat sees some profit taking Monday pulling down corn. While Shawn Hackett, Hackett Financial Advisors says soybeans follow meal higher. Profit taking in cattle. And what’s driving the rally in metals?
Cattle start higher on strong cash before end of month profit taking sets in. Corn and wheat also consolidate with an eye on weather while soybeans move higher. Brad Kooima, Kooima Kooima Varilek has details.
Last week was a choppy trade in the cattle markets, will that extend into this week’s trade? Lean hogs saw heavy selling in the back half of last week’s trade, more long liquidation to come?
Short covering was a theme in last week’s grain trade, will it continue this week?
Darren Frye, Water Street Solutions, says the wheat rally came on weather and technical buying, which also helped corn and soybeans post a higher week. He’s not sure it can continue without a bigger weather issue.
Grains end mixed Friday but higher for the week led by wheat. Cattle make new highs for the move helped by stronger cash. Can the markets continue to move higher? Darren Frye, Water Street Solutions, has the answers.