Grains end higher on Friday mostly due to short covering as the markets were oversold.  DuWayne Bosse with Bolt Marketing says it will be tough to build on it starting a new week with growing yield ideas and lack of a serious weather threat.  Soybeans did see 7.4 million bushels of new crop export business to China which was supportive and wheat got a boost from a sharply lower dollar.  However, livestock futures set back with the collapse in the stock market and some long fund liquidation in the cattle.  Feeders did chart damage, while October live cattle at least came back to close above the 100 day moving average.  

Grains end higher on Friday mostly due to short covering as the markets were oversold.  DuWayne Bosse with Bolt Marketing says it will be tough to build on it starting a new week with growing yield ideas and lack of a serious weather threat.  Soybeans did see 7.4 million bushels of new crop export business to China which was supportive and wheat got a boost from a sharply lower dollar.  However, livestock futures set back with the collapse in the stock market and some long fund liquidation in the cattle.  Feeders did chart damage, while October live cattle at least came back to close above the 100 day moving average.

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.