Grains try to build on yesterday's higher closes, while livestock are mixed.  Dave Chatterton, Strategic Farm Marketing, says the funds have been covering their short position with strong technical signals, talk of lower yield and better demand.  However, he's not sure how much farther grains can rally ahead of the WASDE and with a pick up in farmer selling.  Cattle are consolidating after a higher day yesterday and despite strong boxed beef values.  Lean hog futures continue to see managed money buying with some help from stronger cash and cutouts but he thinks the rally may be about to run out.  

Grains try to build on yesterday's higher closes, while livestock are mixed.  Dave Chatterton, Strategic Farm Marketing, says the funds have been covering their short position with strong technical signals, talk of lower yield and better demand.  However, he's not sure how much farther grains can rally ahead of the WASDE and with a pick up in farmer selling.  Cattle are consolidating after a higher day yesterday and despite strong boxed beef values.  Lean hog futures continue to see managed money buying with some help from stronger cash and cutouts but he thinks the rally may be about to run out.

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.