Grains close mostly higher, with livestock lower.  Mark Schultz with Northstar Commodity says strong demand continues to support corn and soybeans.  USDA announced more flash export sales of 10.6 million bushels of cornto Mexico and unknown and 4.85 million of soybeans also to unknown, plus export inspections were strong for soybeans.  However, both markets continue to be rangebound and can't get above chart resistance.  So what will it take take get above those levels?  Wheat reluctantly followed the row crops with a lower dollar but some rains in HRW areas limited gains.  Cattle continued to consolidate which seasonally is normal but with funds so long will they continue to defend their position?  And hogs made more contract highs in the back months and then reversed.  Is that market topping or will funds keep defending their record long position?  

Grains close mostly higher, with livestock lower.  Mark Schultz with Northstar Commodity says strong demand continues to support corn and soybeans.  USDA announced more flash export sales of 10.6 million bushels of cornto Mexico and unknown and 4.85 million of soybeans also to unknown, plus export inspections were strong for soybeans.  However, both markets continue to be rangebound and can't get above chart resistance.  So what will it take take get above those levels?  Wheat reluctantly followed the row crops with a lower dollar but some rains in HRW areas limited gains.  Cattle continued to consolidate which seasonally is normal but with funds so long will they continue to defend their position?  And hogs made more contract highs in the back months and then reversed.  Is that market topping or will funds keep defending their record long position?

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.