Corn and soybeans end lower on harvest pressure, but John Heinberg with Total Farm Marketing says the row crop markets are removing South American weather premium and jockeying ahead of the WASDE Report out Friday morning.  Wheat saw additional fund short covering and was adding risk premium with dryness in Russia and possible export curbs.  Cattle make new highs for the move with steady to $1 higehr cash.  Hogs followed cattle but also saw strong weekly exports.  But will the funds keep pusing the meat markets? 

Corn and soybeans end lower on harvest pressure, but John Heinberg with Total Farm Marketing says the row crop markets are removing South American weather premium and jockeying ahead of the WASDE Report out Friday morning.  Wheat saw additional fund short covering and was adding risk premium with dryness in Russia and possible export curbs.  Cattle make new highs for the move with steady to $1 higehr cash.  Hogs followed cattle but also saw strong weekly exports.  But will the funds keep pusing the meat markets?

Michelle Rook talks daily with industry analysts to break down agricultural and commodity markets. 

Michelle Rook talks daily with industry analysts to break down agricultural and commodity markets.

Markets Now with Michelle Rook

Michelle Rook talks daily with industry analyst to break down agricultural and commodity markets. 

Michelle Rook talks daily with industry analyst to break down agricultural and commodity markets.

Markets Now Closing Markets - 10-10-24 Audio

Grains end lower after a non eventful WASDE.  Oliver Sloup, Blue Line Futures, says grains saw some profit taking heading into the weekend with row crops seeing harvest pressure and focusing on South American weather, with rain chances in Brazil.  He says a shift in election polls giving Trump a slight edge may have also played into China tariff talk which would be negative.  Live cattle futures hit chart resistance and ended lower, despite steady to $1 higher cash trade.  Lean hogs made new highs for the move in all but the October as funds continue to buy.   

Grains end lower after a non eventful WASDE.  Oliver Sloup, Blue Line Futures, says grains saw some profit taking heading into the weekend with row crops seeing harvest pressure and focusing on South American weather, with rain chances in Brazil.  He says a shift in election polls giving Trump a slight edge may have also played into China tariff talk which would be negative.  Live cattle futures hit chart resistance and ended lower, despite steady to $1 higher cash trade.  Lean hogs made new highs for the move in all but the October as funds continue to buy.

Markets Now Closing Markets - 10-11-24 Audio

Cattle futures continue to grind out new highs for the move with help from steady to $1 higher cash.  Scott Varilek, Kooima Kooima Varilek, says most of the cash has been at $187.  Choice boxes are around $310 which is also supportive.  However, cattle are getting into stiff chart resistance so how high can the market run?  Hogs are also grinding higher on technical buying and slightly lower supplies than expected.  Grains are putting in war and weather premium so without a bearish surprise in the WASDE can the markets continue to rally?  

Cattle futures continue to grind out new highs for the move with help from steady to $1 higher cash.  Scott Varilek, Kooima Kooima Varilek, says most of the cash has been at $187.  Choice boxes are around $310 which is also supportive.  However, cattle are getting into stiff chart resistance so how high can the market run?  Hogs are also grinding higher on technical buying and slightly lower supplies than expected.  Grains are putting in war and weather premium so without a bearish surprise in the WASDE can the markets continue to rally?

Markets Now Early Markets 10-11-24

Grains and livestock are mixed.  Weekly grain exports were decent this morning and Darin Newsom, Sr. Market Analyst for Barchart says wheat is seeing more fund short covering adding some risk premium, especially geopolitical.  Soybeans are seeing harvest pressure and removing some weather premium with forecasted rains for Brazil.  Corn is rangebound waiting for new news.  CPI data was slightly above expectations but will the stock market continue to make new highs and what does that mean for markets like cattle or even grains?  

Grains and livestock are mixed.  Weekly grain exports were decent this morning and Darin Newsom, Sr. Market Analyst for Barchart says wheat is seeing more fund short covering adding some risk premium, especially geopolitical.  Soybeans are seeing harvest pressure and removing some weather premium with forecasted rains for Brazil.  Corn is rangebound waiting for new news.  CPI data was slightly above expectations but will the stock market continue to make new highs and what does that mean for markets like cattle or even grains?

Markets Now Closing Markets - 10-10-24 Audio

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