Grains see corrective buying bouncing off technical support says Kent Beadle with Paradigm Futures.  He says more stable prices for crude oil is helping as well.  Wheat is getting support from less rain in the forecast for HRW wheat areas and a 38% good to excellent wheat rating which is well below a year ago and historically low.  Cattle are mixed after a higher day yesterday pushed by a $2.44 jump in the 5-Area Weighted Average cash price for steers, the 7th higher week.  Beadle says as long as cash can stay steady to firm futures should be able to get through chart resistance.  Lean hog futures make more contract highs Tuesday pushed by technical buying and contra seasonal strength in cash and cutout. 

Grains see corrective buying bouncing off technical support says Kent Beadle with Paradigm Futures.  He says more stable prices for crude oil is helping as well.  Wheat is getting support from less rain in the forecast for HRW wheat areas and a 38% good to excellent wheat rating which is well below a year ago and historically low.  Cattle are mixed after a higher day yesterday pushed by a $2.44 jump in the 5-Area Weighted Average cash price for steers, the 7th higher week.  Beadle says as long as cash can stay steady to firm futures should be able to get through chart resistance.  Lean hog futures make more contract highs Tuesday pushed by technical buying and contra seasonal strength in cash and cutout.

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.