Grains see end of week profit taking on some rain chances creeping into the extended forecast.  Darin Newsom with Barchart says this is typical in a weather market but the recent rally has also been fund short covering.  So he is watching the monthly closes as there is a positive change in trend for corn and soybeans if they close higher and that could bottom the market.  He is also watching the reallocation of money in outside markets including the stock market and what that might mean for ag markets.  Plus, the PCE was positive but does it give the Fed the ammunition they needs to lower rates?  

Grains see end of week profit taking on some rain chances creeping into the extended forecast.  Darin Newsom with Barchart says this is typical in a weather market but the recent rally has also been fund short covering.  So he is watching the monthly closes as there is a positive change in trend for corn and soybeans if they close higher and that could bottom the market.  He is also watching the reallocation of money in outside markets including the stock market and what that might mean for ag markets.  Plus, the PCE was positive but does it give the Fed the ammunition they needs to lower rates?

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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