Grains and cattle are mixed Monday morning, with hogs higher.  Brad Kooima of Kooima Kooima Varilek, has details.  

Grains and cattle are mixed Monday morning, with hogs higher.  Brad Kooima of Kooima Kooima Varilek, has details.

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 Early Markets 11-11-24

Grains end lower for a second day while livestock rally.  Chuck Shelby, Risk Management Commodities, says grains saw technical selling.  Corn and soybeans had a good rally last week post-election and reached the top end of trading ranges.  When prices could not take out chart resistance funds took profits, but there was also a pick up in farmer selling. The collapse in soybean oil also weighed on the bean complex and all the grains reacted to the strong dollar.  Wheat made new lows for the move with improved weather in the U.S. and Black Sea.  Cattle futures extended gains after reversals and selling exhaustion on Monday plus lower feed prices and that also helped hogs hit new contract highs.  

Grains end lower for a second day while livestock rally.  Chuck Shelby, Risk Management Commodities, says grains saw technical selling.  Corn and soybeans had a good rally last week post-election and reached the top end of trading ranges.  When prices could not take out chart resistance funds took profits, but there was also a pick up in farmer selling. The collapse in soybean oil also weighed on the bean complex and all the grains reacted to the strong dollar.  Wheat made new lows for the move with improved weather in the U.S. and Black Sea.  Cattle futures extended gains after reversals and selling exhaustion on Monday plus lower feed prices and that also helped hogs hit new contract highs.

Markets Now Closing Markets - 11-12-24 Audio

Grains are slightly lower Tuesday with livestock mostly higher.  Kent Beadle with Paradigm Futures says corn and soybeans are seeing technical selling after failing at chart resistance again on Monday and soybean oil is follow palm oil lower which is also a drag on the soybeans.  Wheat continues to trade better moisture in winter wheat areas.  However, demand is strong for corn and soybeans with strong cash basis levels and bull spreading evident and Mexico buying another 4.35 million bushels of corn this morning.  Cattle futures made new lows for the move Monday and bounced and are seeing follow through buying this morning, but to keep it going the market will need to see at least steady cash.  Lean hog futures make more contract highs on fund buying and strong demand.  

Grains are slightly lower Tuesday with livestock mostly higher.  Kent Beadle with Paradigm Futures says corn and soybeans are seeing technical selling after failing at chart resistance again on Monday and soybean oil is follow palm oil lower which is also a drag on the soybeans.  Wheat continues to trade better moisture in winter wheat areas.  However, demand is strong for corn and soybeans with strong cash basis levels and bull spreading evident and Mexico buying another 4.35 million bushels of corn this morning.  Cattle futures made new lows for the move Monday and bounced and are seeing follow through buying this morning, but to keep it going the market will need to see at least steady cash.  Lean hog futures make more contract highs on fund buying and strong demand.

Markets Now Early Markets 11-12-24

Grains end lower to start the week, with livestock higher.  Allison Thompson with The Money Farm says pressure in the grains came from a lack of news or fresh demand, farmer selling and bearish outside markets like lower crude oil and a higher dollar.  Wheat was also down with improved weather and made new lows for the move before finding technical support.  Cattle futures also made new lows before bouncing and ending in the green but is it a one day blip?

Grains end lower to start the week, with livestock higher.  Allison Thompson with The Money Farm says pressure in the grains came from a lack of news or fresh demand, farmer selling and bearish outside markets like lower crude oil and a higher dollar.  Wheat was also down with improved weather and made new lows for the move before finding technical support.  Cattle futures also made new lows before bouncing and ending in the green but is it a one day blip?

Markets Now Early Markets 11-11-24

In 1 playlist(s)

Markets Now with Michelle Rook

Follow podcast

Recent clips