Grain and livestock markets are mixed early.  Scott Varilek, Kooima Kooima Varilek, says cattle are trying to recover after a poor technical close yesterday with the help of strong cash.  Hogs are consolidating but the funds may continue to buy the breaks with talk of PRRS.  Corn is higher, with March breaking above $4.35 resistance with strong demand and ideas of lower ending stocks in next week's WASDE.  However, he says a close above this level may only result in another 5 cent higher move as the market still doesn't have the bullish catalyst to support a bigger rally.  Soybeans consolidate after a higher day yesterday with China buying rumors supporting the market, but with no confirmation of any business and continued higher estimates for Brazil's crop futures are setting back.  

Grain and livestock markets are mixed early.  Scott Varilek, Kooima Kooima Varilek, says cattle are trying to recover after a poor technical close yesterday with the help of strong cash.  Hogs are consolidating but the funds may continue to buy the breaks with talk of PRRS.  Corn is higher, with March breaking above $4.35 resistance with strong demand and ideas of lower ending stocks in next week's WASDE.  However, he says a close above this level may only result in another 5 cent higher move as the market still doesn't have the bullish catalyst to support a bigger rally.  Soybeans consolidate after a higher day yesterday with China buying rumors supporting the market, but with no confirmation of any business and continued higher estimates for Brazil's crop futures are setting back.

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.