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West Texas intermediate crude oil prices hit an 11-month low of $73.60 per barrel Monday before rebounding to close higher. So, what is driving the market and how long will these lower price levels last?
Follow through buying in soybeans with dryness in Argentina, more technical selling in wheat, corn is caught in the middle. Cattle and hogs are mixed. Michelle Rook with Vince Boddicker Farmers Trading Company.
Tomm Pfitzenmaier, Summit Commodity Brokerage discusses how soybeans scored a reversal with crude oil, higher products and dryness in Argentina. Wheat saw more technical selling and corn was caught in the middle.
Soybeans up w/ CO, product strength, Argentina drought. Wheat saw more technical selling, with corn caught in the middle. Livestock lower on economic concerns. Michelle Rook w/Tomm Pfitzenmaier, Summit Commodity.
For some farmers marketing can be a daunting task, especially with all the volatility and uncertainty of the current market environment. Nobody knows that better than two farmers turned market advisors.
Corn and wheat lower on China COVID concerns, poor exports. Soybeans reverse w/strong exports and a rebound in crude oil. Livestock down on demand fears. Michelle Rook is w/Shawn Hackett, Hackett Financial Advisors
Grains and cotton under early pressure from China COVID protests and lower crude oil. Dollar is down. Live cattle see profit taking despite higher cash. Michelle Rook with Darin Newsome of Barchart.
Corn & beans up on holiday technical buying, wheat sees technical selling with rain chances. Milk lower w/ record COVID cases in China, cattle consolidate. Michelle Rook w/ Bryan Doherty of Total Farm Marketing.
Grains see technical buying on light holiday volume, strong corn exports. Livestock 2-sided with strong exports, short covering in hogs, cattle mixed with higher corn vs. higher cash. Michelle Rook has an update.
Grains mostly higher on light holiday trade on follow through technical buying, higher crude oil and export news. Cattle lower with higher corn. Hogs are down with lower cash & cutouts. Michelle Rook has an update.