Markets Now with Michelle Rook

Grains mixed to lower after the WASDE with very few changes for corn and soybeans.  Wheat did see slightly lower U.S. ending stocks and Russian, EU and Ukraine production dropped a total of 8 mmt.  Jim McCormick, AgMarket.Net, says the focus today becomes the lower dollar, weather and the acreage report at the end of the month.  

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Cattle start higher on Wednesday with help from strong cash and the rally in the stock market due tied to the CPI data says Scott Varilek, Kooima Kooima Varilek. However, its been a tug of war in the cattle on tight numbers and cash verses bird flu news.  Hogs try to follow but continue to struggle with the sliding Lean Hog Index.  Corn and soybeans rally with China soybean export biz and despite a sharply lower wheat market.  

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Grains see a corrective day and WASDE report positioning with wheat sharply higher, corn and soybeans were lower.  Matt Bennett, AgMarket.Net, says strong row crop ratings were also bearish.  Cattle also saw profit taking after running into chart resistance and corrected ahead of the Fed announcement.  

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Corn ends higher on extended weather concerns and strong export inspections, while soybeans got a push by the meal market.  Randy Martinson, Martinson Ag, says it was impressive considering the collapse in wheat which was down the 9th day on harvest pressure, rains chances in Southern Russia and the higher dollar.  Cattle had a nice rally anticipating strong cash, while hogs failed again as demand is lackluster.  

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Cattle futures are sharply higher early Monday as Brad Kooima with Kooima Kooima Varilek says Northern cash trade topped at $193 live late Friday.  Hogs start mixed and quickly fade on export concerns, while corn and beans try to bounce, despite the sharply lower wheat market.  

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Grains were lower Friday on fund selling.  Darren Frye, Water Street Solutions, says speculators look like they are re-establishing their short positions at least in the corn and soybean markets. Livestock were mixed to higher as cattle consolidated awaiting cash direction, the hogs bounced off new lows for the move but can they build on it?  

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Grains back lower as wheat drags down corn and soybeans and funds are back in sell mode.  Cattle are trying to bounce awaiting cash news while hogs are mostly lower again.  Randy Martinson, Martinson Ag, has details. 

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Corn and soybeans see double digit gains mainly on short covering says John Payne, Advance Trading, while wheat struggled.  Cattle were hit by more bird flu news, hogs reversed off new lows.  

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Cattle lower on more bird flu news but at least holding support. Scott Varilek, Kooima Kooima Varilek, says cash cattle news has been scarce so far.  Hogs make more new lows for the move and are in danger of retesting contract lows.  Grains see a short covering bounce after 7 down days in row crops, but corn exports were decent as well. 

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Grain and livestock futures all end lower again Wednesday.  Hogs make new lows for the move, pulling down cattle but it looks like funds are selling in livestock and back selling in grains.  Jeff Hoogendoorn, Professional Ag Marketing, wraps up the day.  

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