Markets Now with Michelle Rook

Grains are drifting lower again this morning.  Corn and soybeans saw some early short covering as they were oversold but are getting drug down by wheat. Wheat has seen profit taking and all of the grains have been down the last 5-6 days on renewed fund selling as the market seems to have worked any production concerns into the market.  Live cattle see some short covering, with feeders lower as that market chops.  Meanwhile, lean hogs make new lows for the move with stalled cash.  Kent Beadle, Paradigm Futures, has more.  

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Grain and livestock futures see red on Tuesday.  Vince Boddicker, Farmers Trading Company, has details.  

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Grains see some early pressure with planting still ahead of average and crop ratings for corn and wheat better than expected.  Grains have seen a quick correction from recent highs.  Jon Scheve with Superior Feed Ingredients says the markets are looking for direction from weather, the June WASDE and Acreage Reports to decide the next move.  He has marketing advice on how farmers should prepare.  

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Grains and cotton end lower to start a new month with risk off in outside markets, technical selling and removing weather premium.  How much technical damage was done? Alan Brugler, Brugler Marketing, has the answer.  Plus, live cattle see a short covering bounce off chart support.

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Cattle fall after a lower weekly close and softer cash trade, holding chart support. Hogs struggle on fund selling.  Soybeans fall pulling down corn, while wheat rallies. Brad Kooima, Kooima Kooima Varilek, has more.  

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Grain and cattle futures end mostly lower on Friday and were lower for the week.  Is this topping action? Where do the markets go from here? Naomi Blohm, Total Farm Marketing, digs into the technicals, seasonals and other factors the markets will be watching starting a new month.  

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Grains back higher after correcting the last three days and removing some weather premium.  Is this recovery all technical and will it last?  Darin Newsom, Sr. Market Analyst for Barchart, says wheat has the best chance of holding gains with concerns about drought still in 25% of HRW areas.  Markets are also keeping an eye on geopolitical events.  Cattle continue their slide for a third day.  

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Cattle end lower for a second day with China delisting beef from the JBS plant in Greeley, CO due to traces of ractopomine, plus end of month profit taking.  Cash has been light but a bit lower at $186 in the South, but some reports of $191 in the North.  Scott Varilek, Kooima Kooima Varilek, says the futures discount to cash has been supportive.  Hogs bounce on short covering as the market is over sold and spread unwinding with cattle.  Grains end lower on technical selling and removing weather premium but is this topping action?

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Corn and wheat continue to consolidate on end of month profit taking, with risk off from a lower stock market and lack of a new weather story.  Soybeans try to bounce with meal after holding chart support.  Cattle are 2-sided trying to recover after a flash crash yesterday on new China was banning U.S. beef from a CO JBS plant due to ractopamine, but end of month profit taking.  Hogs still searching for a low.  Vince Boddicker, Farmers Trading Company, has details.  

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Grain and livestock futures all end lower in a risk off day tied to the fast planting pace, another HPAI case in an Iowa poultry flock, plus its end of the month which may have resulted in some profit taking.  However, is the grain market starting to put in a top?  Cattle consolidate despite record cash while hogs make new lows for the move. Rich Nelson, Allendale, has more.

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