A mostly higher day except soybeans.  Ted Seifried, Zaner Ag Hedge, says wheat and corn make new highs for the move.  Both markets saw additional fund short covering and support from geopolitical and weather concerns.  Soybeans ended slightly lower but are in a holding pattern awaiting Brazil rain confirmation.  He thinks funds have covered a large percentage of their record short in the grains and so he doesn't see a lot more upside in the market.  Cattle and hog futures also soared into new near term highs pushed by fund buying and ideas the port strike is going to invoke supply chain disruptions that will cause stockpiling similar to COVID.   

A mostly higher day except soybeans.  Ted Seifried, Zaner Ag Hedge, says wheat and corn make new highs for the move.  Both markets saw additional fund short covering and support from geopolitical and weather concerns.  Soybeans ended slightly lower but are in a holding pattern awaiting Brazil rain confirmation.  He thinks funds have covered a large percentage of their record short in the grains and so he doesn't see a lot more upside in the market.  Cattle and hog futures also soared into new near term highs pushed by fund buying and ideas the port strike is going to invoke supply chain disruptions that will cause stockpiling similar to COVID.

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.