Markets Now with Michelle Rook

Grains end lower on heavy deliveries against the May soybean oil and Chicago wheat contracts, end of month profit taking and the fast planting pace.  Plus, outside markets were risk off with the stock market lower and the dollar higher, which also weighed on cattle.  Although Kent Beadle with Paradigm Futures says cattle also saw end of month positioning and fund liquidation for a second day with USDA testing ground beef in state impacted by H5N1.  Hogs ended mostly lower with the futures premium to a softening lean hog index.  

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Grains drifting lower on end of month profit taking.  Plus, its first notice day and there were heavy deliveries of bean oil and Chicago wheat.  Fast planting pace, especially on spring wheat and rain in the forecast for Russia is also weighing on the wheat market.  Cattle see follow through selling with USDA testing ground beef in affected states for bird flu, while hogs bounce on spreading against cattle and bouncing off chart support.  Randy Martinson, Martinson Ag, has more.  

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Winter wheat sees some profit taking Monday with some rain chances in Russia.  Soybeans end higher led by meal on concerns about a strike in Argentina at crushing facilities, while soybean oil plunged lower.  Corn was down slightly following wheat but still stuck in its sideways range.  Cattle saw end of month profit taking.  Copper and precious metals have had a huge rally on geopolitical concerns according to Shawn Hackett, Hackett Financial Advisors.  

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Brad Kooima, Kooima Kooima Varilek

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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.  

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Wheat is higher for a 7th day on technical buying and U.S. and global production concerns.  However, the market is watching rain chances in the extended forecast for the HRW areas and is nearing some chart resistance according to Allison Thompson of The Money Farm.  Corn and soybeans are seeing light pressure as they are into chart resistance and rain in the Corn Belt is actually seen as a bit bearish.  Export demand may be the sleeper fundamental for the corn market while weaker exports have hurt the soybeans.  Cattle continue to rally after Thursday's reversal on steady to higher cash.  

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Grains and livestock close mixed Thursday.  Wheat rallies for a 6th day on continued fund short covering and adding war and weather premium.  Can wheat keep moving higher and pull corn above overhead chart resistance? Or does corn have its own emerging story? Soybeans struggle to follow corn and wheat plagued by weak exports.  Cotton steady after the recent implosion of the market, so is the selling done?  Cattle see a nice recovery with steady to higher cash.  Alan Brugler, Brugler Marketing, has analysis.  

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Cattle plunge again on new HPAI news restricting movement of dairy cattle and Columbia banning beef from affected states.  However, cash is holding together on fed and feeder cattle.  So will futures hold the recent lows?  Hogs lower following cattle.  Corn is higher in tandem with wheat and with strong exports but can it take out overhead chart resistance at the top of the recent trading range?  Soybeans fall on farmer selling and poor weekly exports.  Scott Varilek, Kooima Kooima Varilek, covers it all!

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Grains end mixed with wheat closing higher for the fifth consecutive day.  Is it all fund short covering or is the market concerned about U.S. and global production issues?  Soybeans end steady with corn lower, unable to follow wheat and taking a break after three up days.  So is the rally over there?  Darin Newsom, Senior Market Analyst for Barchart, has the answers.  Plus, he talks about the correction in cattle, metals and the energy markets and if the inflation and geopolitical concerns over for the markets.  

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Grains are quiet and chopping on both sides of steady on Wednesday after testing the top side of recent trading ranges.  Is the short covering rally and fund buying just about done?  Livestock have traded 2-sided early but are now favoring the downside.  Cattle are consolidating along with hogs.  Vince Boddicker, Farmers Trading Company, has details.  

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