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.

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.

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