Markets Now with Michelle Rook

Grains are mixed early with livestock higher.  Randy Martinson, Martinson Ag, says market reaction has been muted to possible 25% tariffs on Mexico and Canada and 10% on China on the first day of the Trump administration. He expects front loading of product and a pick up in demand for corn, wheat, pork and other products ahead of that.  Wheat is adding war premium back in with Black Sea tensions reigniting.  Cattle are higher with feeders leading on import restrictions on Mexican feeder cattle due to a case of New World Screwworm.  Hogs are making new contract highs in the back months.  

See omnystudio.com/listener for privacy information.

Grains and cattle markets end mixed Monday, hogs higher.  Kent Beadle with Paradigm Futures says cattle had a volatile session with a gap higher open on news the New World Screwworm had been detected in Mexico and APHIS was restricting imports.  However, it was offset by a bearish Cattle on Feed Report.  So live cattle ended lower and feeder cattle well off session highs.  Hogs ended higher with surging cutouts at noon and retested contract highs in the deferreds.  Grains were mixed with soybeans supported by strong export inspections and talk of more China export business.  Corn saw nearly 18 million bushels of export sales to Mexico but it failed to rally the market as corn followed wheat.  Wheat took out war premium and also saw some profit taking in anticipation of better ratings and despite a lower dollar.    

See omnystudio.com/listener for privacy information.

Cattle and hogs higher early, grains mixed.  Brad Kooima, Kooima Kooima Varilek, says cattle futures gapped higher on the open shaking off the bearish Cattle on Feed Report numbers and latching on to the weekend headline about New World Screw worm detected in a Mexican cow and border restrictions that followed.  He says the impact on the market will depend on the duration of import restrictions.  Cash cattle trade beat expectations with steady money in the North but $1 to even $2 higher trade in the South.  Hogs continue to consolidate with funds shedding some of their record length but are seeing spillover from higher cattle.  Corn saw another 17.9 million bu. of export business to Mexico this morning but is being drug down by wheat.  Soybeans scored a key reversal off contract lows on Friday but are also trading rumors of China buying 8-10 carogos for early February delivery.  

See omnystudio.com/listener for privacy information.

Tomm Pfitzenmaier of Summit Commodity Brokerage talks about why basis levels are currently so strong for grains, especially corn and what farmers can do to take advantage of it while still keeping some upside open for a rally.

See omnystudio.com/listener for privacy information.

Don Roose U.S. Commodities says grains end lower Thursday on technical selling, a lack of bullish news and the higher dollar.  He says live cattle also fell on profit taking and caution ahead of the Cattle on Feed and seasonal demand weakness.  Meanwhile feeder futures continue to be pushed by strong cash and tighter numbers.  Lean hog futures shook off the higher dollar to trade higher with the funds long and the futures at a discount to the cash index.  

See omnystudio.com/listener for privacy information.

Grains are lower early with livestock mostly higher after a mixed open.  Scott Varilek of Kooima Kooima Varilek has details.  

See omnystudio.com/listener for privacy information.

Corn and wheat end higher for a 4th day, but soybeans fall. Livestock mostly higher except a few live cattle contracts.  DuWayne Bosse, Bolt Marketing, has details.  

See omnystudio.com/listener for privacy information.

Grains are mixed to lower early Wednesday with livestock mostly higher.  Tomm Pfitzenmaier with Summit Commodity Brokerage says wheat is start to look tired after pricing in Black Sea war premium and running into chart resistance.  The higher dollar is a headwind for all the grains.  Soybeans are fading flash export sales and continue to slide with lower bean oil, the big Brazil crop and their deal with China.  Corn is also seeing spillover pressure but isn't breaking hard due to strong demand.  Cattle futures are building on the strong technical close Tuesday, and hogs are also trying to recover.  

See omnystudio.com/listener for privacy information.

Grain and livestock markets both ended mixed Tuesday.  Matt Bennett, AgMarket.Net, says wheat was up for a third day continuing to see short covering and adding war premium.  Corn could not follow wheat with lower soybeans and the failure to get above chart resistance.  Soybeans set back on lower product values and larger Brazil crop estimates with Abiove at a record 167.7 mmt.  Live and feeder cattle futures had a strong technical day back above key moving averages with feeders still the leaders on strong demand and cash feeder prices.  

See omnystudio.com/listener for privacy information.

Grains are mixed early with livestock firming up.  Darin Newsom, Senior Market Analyst with Barchart, says wheat is seeing short covering adding risk premium with tension escalating in the Black Sea and threats by Russia to use nuclear weapons.  Soybeans are lower with no South America weather threat and tariff fears still in the mix.  Corn is flat caught in the middle but Newsom says demand has been strong reflected by firmer cash basis and bull spreading so he's hopeful December can finally move above $4.35 resistance.  However, he is concerned about demand shutting off for all grains after Trump takes office.  Cattle started mixed but have moved higher with feeders continuing to lead and despite seasonal weakness in fed cash and boxed beef.  

See omnystudio.com/listener for privacy information.