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.  

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.

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 - 11-19-24 Audio

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.    

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.

Markets Now Closing Markets - 11-25-24  Audio

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.  

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.

Markets Now Early Markets 11-25-24

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.

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.

Markets Now Closing Markets - 11-19-24 Audio

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