Grains close lower after bearish USDA Reports, especially the 1.4 million acre increase in corn area.  Chip Nellinger, Blue Reef Agri-Marketing, has analysis and price action.  Cattle lower on profit taking end of quarter and with cash only steady to $1 higher, while hogs saw short covering.  

Grains close lower after bearish USDA Reports, especially the 1.4 million acre increase in corn area.  Chip Nellinger, Blue Reef Agri-Marketing, has analysis and price action.  Cattle lower on profit taking end of quarter and with cash only steady to $1 higher, while hogs saw short covering.

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 -6-28-24 Audio

Grains are mixed positioning ahead of the USDA reports.   Hogs fall back despite what Joe Kooima of Kooima Kooima Varilek calls a neutral Hogs and Pigs Report compared to expectations.  However, he says the market has continue to sell off with lackluster cutouts and bigger than expected supplies and weights. Cattle trade into more near term highs with only light cash trade and few bids in the South indicating higher prices again this week.  

Grains are mixed positioning ahead of the USDA reports.   Hogs fall back despite what Joe Kooima of Kooima Kooima Varilek calls a neutral Hogs and Pigs Report compared to expectations.  However, he says the market has continue to sell off with lackluster cutouts and bigger than expected supplies and weights. Cattle trade into more near term highs with only light cash trade and few bids in the South indicating higher prices again this week.

Markets Now Early Markets 6-28-24

Corn and soybeans make more new lows for the move on continued fund selling, weather and report positioning.  DuWayne Bosse, Bolt Marketing, says the trade is leaning to bearish heading into the reports and a surprise could lead to a nice short covering rally.  Wheat was up 12 to 18 cents on short covering as the market is oversold.  While cattle were mostly lower on profit taking end of month and end of quarter.  

Corn and soybeans make more new lows for the move on continued fund selling, weather and report positioning.  DuWayne Bosse, Bolt Marketing, says the trade is leaning to bearish heading into the reports and a surprise could lead to a nice short covering rally.  Wheat was up 12 to 18 cents on short covering as the market is oversold.  While cattle were mostly lower on profit taking end of month and end of quarter.

Markets Now Closing Markets 6-27-24

Grains end mixed to lower after trying to recover early in the session.  Kevin Duling, KD Investors, says the market is oversold but funds continue to sell leaning bearish on weather and heading into the USDA reports.  If grains can forge lows after the reports how much recovery could we expect?  Cattle make new highs for the move pushed by record cash and futures could take out the all time highs.  

Grains end mixed to lower after trying to recover early in the session.  Kevin Duling, KD Investors, says the market is oversold but funds continue to sell leaning bearish on weather and heading into the USDA reports.  If grains can forge lows after the reports how much recovery could we expect?  Cattle make new highs for the move pushed by record cash and futures could take out the all time highs.

Markets Now Closing Markets -6-28-24 Audio

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