Grains and livestock end higher except for wheat, seeing commodity wide buying as especially corn and soybeans were oversold and due for some corrective buying.  Mike Minor, Professional Ag Marketing, says for at least the grains sustaining a rally may be difficult.  Even though funds are near to record short in the grains farmers will likely sell on every rally with old crop inventory to move.  Cattle were slightly higher but in a consolidation pattern, while hogs also saw technical buying but again may have trouble building on it.  

Grains and livestock end higher except for wheat, seeing commodity wide buying as especially corn and soybeans were oversold and due for some corrective buying.  Mike Minor, Professional Ag Marketing, says for at least the grains sustaining a rally may be difficult.  Even though funds are near to record short in the grains farmers will likely sell on every rally with old crop inventory to move.  Cattle were slightly higher but in a consolidation pattern, while hogs also saw technical buying but again may have trouble building on it.

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.