Markets Now with Michelle Rook

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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Grains end higher for a third day on speculative short covering and corrective buying.  However, wheat is still putting in risk premium and pulling corn and soybeans along.  Technically the markets have climbed above some key moving averages so is this the start of a bigger rally?  Plus, live cattle take a breather after running into chart resistance, while feeders and hogs continued higher.  Will hogs run back to contract highs?  DuWayne Bosse, Bolt Marketing, has the answers.

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Grains start mixed but quickly move higher extending gains from Monday.  Wheat has been leading on lower crop ratings and putting in weather and war premium.  Corn and soybeans have been following but also technically has also broke above key moving averages along iwth the wheat.  Cattle try to extend gains after a push from bullish placements in the Cattle on Feed Report, while hogs follow cattle.  Kent Beadle, Paradigm Futures, has details.  

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A risk on day resulted in higher closes in both grain and livestock futures.  Funds were covering short positions in the grain market.  Wheat led the rally putting in weather premium on concerns in HRW areas of the U.S. plus there are problems in the Black Sea and Europe, plus India is pulling wheat out of their reserves due to tight supplies. Corn and soybeans followed wheat but also bounced off chart support areas.  Cattle rallied after a bullish placements number in the Cattle of Feed report and the buying in the stock market, hogs followed.  Jim McCormick, AgMarket.Net, has details.  

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Cattle rally with the bullish placements number at 88% in the Cattle on Feed report and after steady cash in the south. What will cash do this week? Hogs fail to see follow through buying after the chart breakout Friday.  Grains rally led by the wheat market on weather concerns in the U.S. and Europe.  However, corn has strong demand and a higher seasonal pattern in its favor according to Brad Kooima of Kooima Kooima Varilek.  

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Grains close higher on short covering and putting in some risk premium on geopolitical and weather concerns.  Live cattle ended higher with steady cash at $182 in the South and ahead of the COF. Hogs broke above chart resistance with help from the lower sow herd numbers in China.  Rich Nelson, Allendale, Inc. covers it all.  

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Cattle seeing some pressure positioning ahead of the Cattle on Feed Report and with the lack of cash news. Plus, uncertainty with Israel attacking Iran overnight.  However, the market is absorbing that and the HPAI news pretty well according to Scott Varilek, Kooima Kooima Varilek.  Hogs are consolidating under the recent highs but supported by stronger cash and cutouts.  Grains are putting some war premium in and seeing some short covering after soybeans hit new lows for the move Thursday.  Plus EPA is expected to announce E15 sales for summertime.

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Soybeans make new lows for the move with South American hedge pressure dragging down beans and that spilled over into the corn market.  Wheat futures were able to make some gains with concerns about crop conditions and dry weather, despite China export cancellations on this morning's export sales report.  Cattle end mostly higher but positioning ahead of cash news and the Cattle on Feed Report.  Outside markets continue to watch geopolitical headlines.  Arlan Suderman, StoneX, has analysis.  

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Corn and soybeans lower with slow exports and no weather issues to push the market.  Wheat is seeing short covering with frost concerns in the extended forecast. Livestock mixed.  Crude oil and gold are rallying on geopolitical concerns, but there have also been some contraseasonal moves in markets like heating oil/diesel fuel.  Darin Newsom, Sr. Market Analyst with Barchart, gives his take on the market action.  

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Grains end mixed with wheat seeing technical selling pressure after hitting chart resistance.  Soybeans and products saw corrective buying.  Corn was slightly lower caught between higher beans and lower wheat.  However, corn is still in a narrow sideways trading range.  Grains generally lack buying interest by the funds but do they become an inflationary and geopolitical buy at some point?  Kevin Duling, KD Investors, shares his insight.  

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