Markets Now with Michelle Rook

Kent Beadle, Paradigm Futures, details what drove the rally in grains and new highs for the move in corn.  Can the market build on it?  Cattle take a break with end of month profit taking, hogs end mixed, while the Fed leaves rates unchanged.  

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Chip Nellinger, Blue-Reef AgriMarketing says grains rally Wednesday with corn pulling up the rest of the complex with SA weather concerns.  Livestock take a break with some end of month profit taking and hogs follow.  

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Chuck Shelby, Risk Management Commodities, says grains close higher seeing fund buying and consolidation with the markets still digesting possible tariffs and South American weather.  What would it take to break corn and soybeans above last week's highs?  Livestock futures close strong with cattle breaking to new highs chasing cash, but how long can the market stay in record territory and will hogs continue to follow?  

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DuWayne Bosse, Bolt Marketing, says corn and wheat are trying to recover Tuesday with fund short covering.  Soybeans have been two sided.  The market is still watching tariff and weather developments in South America.  Cattle are higher again this morning still supported by the discount to last week's record cash, hogs are following cattle.  

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Mike Zuzulo, Global Commodity Analytics, says grains consolidate on better South American weather and tariff fears.  Live cattle make all-time highs on record cash with feeders lower.  

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Cattle hit record highs again says Brad Kooima of Kooima Kooima Varilek, hogs follow.  Grains break on SA weather and tariff concerns.  

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Dan Basse, Ag Resource, says grain markets pull back on profit taking, rains chances in dry areas of South America and Argentina lowering their grain export tax.  Cattle futures and cash hit record highs.  

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Scott Varilek, KKV, says cattle make new highs with cash in the North up to $210 and the MX border still closed to feeder imports.  Hogs follow with strong exports.  Grains set back on profit taking and Argentina lowering its export taxes on grains.  

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Craig Turner with StoneX says corn and soybeans make fresh for the move highs on SA weather and fund buying.  So how high can prices go?  Wheat lags due to the higher dollar, while cattle make all-time highs with the border ban on Mexican feeder cattle continuing.  Will prices take the next leg higher?  

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Chuck Shelby, Risk Management Commodities, says corn and soybeans have rebounded this morning adding South America weather premium, while wheat and livestock are seeing profit taking. 

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