Grain and livestock end mixed Wednesday.  Garrett Toay, AgTraderTalk, says corn and wheat are higher on technical or corrective buying but corn also got support from nearly 80 million bushels of flash export sales mostly to Mexico.  Soybeans set back and fund selling, removing South American weather premium, China economic concerns and with heavy balance sheets. Cattle were lower except nearby live future as the markets await cash and consolidate technically.  Toay isn't sure if cash can trade higher a sixth week and says a bigger correction may be in store if futures can't close above chart resistance.  Lean hogs saw a nice technical recovery and are seeing strong cash and better than expected demand supportive as pork is at a value to beef.  

Grain and livestock end mixed Wednesday.  Garrett Toay, AgTraderTalk, says corn and wheat are higher on technical or corrective buying but corn also got support from nearly 80 million bushels of flash export sales mostly to Mexico.  Soybeans set back and fund selling, removing South American weather premium, China economic concerns and with heavy balance sheets. Cattle were lower except nearby live future as the markets await cash and consolidate technically.  Toay isn't sure if cash can trade higher a sixth week and says a bigger correction may be in store if futures can't close above chart resistance.  Lean hogs saw a nice technical recovery and are seeing strong cash and better than expected demand supportive as pork is at a value to beef.

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.