Markets Now with Michelle Rook

Grains and live cattle end mixed, with feeders, hogs and mlk higher.  Bryan Doherty, Total Farm Marketing, says March corn sees a chart breakout Friday above $4.35 and posts a higher weekly close pricing in strong exports and lower ending stocks in Tuesday's WASDE.  Soybeans were steady to higher in the January but also posted a higher weekly close but can the market hold with tariff fears and the large SA crop coming?  Wheat scored a double bottom this week and Doherty is hopeful the market can build on it.  However, live cattle closed mixed despite cash from $190 -$192 and higher boxed beef values as he says the market is anticipating a slow down in demand end of year. Milk futures scored a higher weekly reversal and he thinks the low might be in in that market as well.  

See omnystudio.com/listener for privacy information.

Grain and livestock markets are mixed early.  Scott Varilek, Kooima Kooima Varilek, says cattle are trying to recover after a poor technical close yesterday with the help of strong cash.  Hogs are consolidating but the funds may continue to buy the breaks with talk of PRRS.  Corn is higher, with March breaking above $4.35 resistance with strong demand and ideas of lower ending stocks in next week's WASDE.  However, he says a close above this level may only result in another 5 cent higher move as the market still doesn't have the bullish catalyst to support a bigger rally.  Soybeans consolidate after a higher day yesterday with China buying rumors supporting the market, but with no confirmation of any business and continued higher estimates for Brazil's crop futures are setting back.  

See omnystudio.com/listener for privacy information.

Markets end mostly lower except wheat.  Dave Chatterton, Strategic Farm Marketing, discusses what caused the risk off selling in ag markets.  

See omnystudio.com/listener for privacy information.

Grains and livestock are mixed to lower early Wednesday.  DuWayne Bosse of Bolt Marketing says soybeans are consolidating with products, despite a 30,000 MT sale of bean oil to South Korea.  Corn is following soybeans with some light support from drier longer term weather in Argentina.  Wheat is trying to bounce with some short covering.  Cattle futures are consolidating after the higher day yesterday as the markets ran into chart resistance and saw lower boxed beef values.  Hogs are also seeing some more profit taking with lower cutouts, but will the funds buy the break again defending their record long position?

See omnystudio.com/listener for privacy information.

Grain and livestock end mixed Tuesday.  John Heinberg, Total Farm Marketing, says corn failed mid-session with conflicting information about guidance being delayed for the 45Z Clean Fuel Production Credits, but it also hit chart resistance.  Soybeans ended higher with short covering after bouncing off support and with help from higher product values and talk of China buying soybeans.  Wheat saw a slight bounce off yesterday's new lows iwth the dollar slightly weaker.  Cattle futures bounced with higher Choice boxed beef at noon and speculation cash could be higher again but can the market get through resistance on the charts, especially Feb. live cattle at $190 and can feeders continue to rally?  Hogs saw some consolidation and Heinberg says that market is overbought and due for a correction.  

See omnystudio.com/listener for privacy information.

Grain and livestock are higher to start Tuesday.   Brad Kooima, Kooima Kooima Varilek, says cattle are recovering after headlines about a Kansas corned beef plant closure hurt the market Monday and over shadowed another week of higher cash and strong cutouts. Last week's cash cattle average came in just under $190 and he thinks the market will be higher again this week.  Feeders have been on fire up $18 for the month of November but with the Mexican border reopening soon he says the futures market may soon be due for a correction, while cash may continue strong.  Hogs are higher with funds record long and adding to their position with help from higher cutouts.  Grains are also seeing a technical bounce after testing new lows in soybeans and wheat Monday.  

See omnystudio.com/listener for privacy information.

Grain and cattle futures end mostly lower Monday.  Kevin Duling, KD Investors, says more tariff talk over the weekend on the BRICS countries has funds nervous and that sent the dollar higher which is also negative for ag markets.  Despite positive export news including another 4.9 million bu. of soybeans sold to China, the soybean market has failed to rally.  Rain over the weekend in Brazil and record crop forecasts for South America are weighing on the soybeans and products.  Wheat is down into contract lows again on more technical selling and despite lower production and export forecasts from Russia.  Duling says there is disconnect between the cash and futures and cash will have to sort it out as it bids for quality.  Corn is more of a follower of wheat and even soybeans despite solid demand.  Cattle set back on rumors of a plant closing in Kansas at a corned beef plant and despite higher cash and cutouts.  

See omnystudio.com/listener for privacy information.

Grain and livestock markets closed mixed Friday.  Jim McCormick, AgMarket.Net, says markets were still digesting tariff threats and seeing profit taking tied to first notice day and end of the month.  He explains what tariffs and a possible trade war will mean for ag markets and the broader economy?  

See omnystudio.com/listener for privacy information.

Grain and hogs markets end mixed Wednesday with cattle higher.  Mike Minor, Professional Ag Marketing, says the markets shook off tariff talk and saw positioning end of month and before first notice day Friday.  Soybeans saw slight gains on a lower dollar and with talk of China business on top of the flash export sale announced. Wheat saw pressure on technical selling and chances for rain in parts of Russia.  Corn was caught in the tug of war between the two.  Cattle futures gained with higher cash and feeders scored more new highs for the move. Hogs made new contract highs and then consolidated.

See omnystudio.com/listener for privacy information.

Grains end mixed Tuesday, with livestock mostly higher.  Jim McCormick, AgMarket.Net, says corn and soybeans slid on possible tariffs being placed on Mexico, Canada and China.  Wheat ended higher on short covering. Positioning ahead of end of the month and first notice day was also evident.  Cattle ended mostly higher with new highs for the move with import restrictions on Mexican feeder cattle due to New World Screwworm.  Hogs also extended gains into new contract highs.  

See omnystudio.com/listener for privacy information.