Grains close lower on Thursday, with livestock mixed to lower as well.  Grains saw profit taking and farmer selling.  DuWayne Bosse, Bolt Marketing, says grains ran up into some chart resistance and he thinks the fund short covering is starting to subside as well.  Plus, harvest pressure may be picking up and overwhelming any technical buying.  The markets are still watching global weather and rains forecasted for Brazil and Argentina next week had the market removing weather premium.  However, geopolitical tensions in the Middle East and caution ahead of the October WASDE are also market factors.  Livestock were mixed to lower on profit taking and hedge pressure following new near term highs on Wednesday and even though cash cattle trade so far has been strong.

Grains close lower on Thursday, with livestock mixed to lower as well.  Grains saw profit taking and farmer selling.  DuWayne Bosse, Bolt Marketing, says grains ran up into some chart resistance and he thinks the fund short covering is starting to subside as well.  Plus, harvest pressure may be picking up and overwhelming any technical buying.  The markets are still watching global weather and rains forecasted for Brazil and Argentina next week had the market removing weather premium.  However, geopolitical tensions in the Middle East and caution ahead of the October WASDE are also market factors.  Livestock were mixed to lower on profit taking and hedge pressure following new near term highs on Wednesday and even though cash cattle trade so far has been strong.

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.