Grain and livestock futures end mixed on Wednesday as markets were awaiting the FOMC decision.  Darren Frye, Water Street Advisory, says the 50 basis point interest rate cut by the Fed was largely anticipated but the market is expecting additional easing by year end and this will be friendly for the ag sector especially as it weakens the dollar.  Soybeans rallied on both supply and demand factors but could not close above key resistance but Frye thinks the market will continue to move higher.  Corn was flat caught between higher soybeans and lower wheat.  Wheat continues to see profit taking with better rain chances in the Southern Plains.  Cattle were choppy and two-sided awaiting the Fed announcement but also looking for cash direction after a low was forged last week.  Hogs saw additional chart based buying.  

Grain and livestock futures end mixed on Wednesday as markets were awaiting the FOMC decision.  Darren Frye, Water Street Advisory, says the 50 basis point interest rate cut by the Fed was largely anticipated but the market is expecting additional easing by year end and this will be friendly for the ag sector especially as it weakens the dollar.  Soybeans rallied on both supply and demand factors but could not close above key resistance but Frye thinks the market will continue to move higher.  Corn was flat caught between higher soybeans and lower wheat.  Wheat continues to see profit taking with better rain chances in the Southern Plains.  Cattle were choppy and two-sided awaiting the Fed announcement but also looking for cash direction after a low was forged last week.  Hogs saw additional chart based buying.

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.