PODCAST

Markets Now with Michelle Rook

Michelle Rook

Michelle Rook talks daily with industry analysts to break down agricultural and commodity markets.

news business news

All Episodes

10:11

Markets Now Early Markets 8-2-24

Markets Now with Michelle Rook ·

2024/08/02

Grains see some end of week short covering but Tomm Pfitzenmaier of Summit Commodity Brokerage says the 7-day forecast also looks a little hotter and drier which is helping out. China bought another 7.4 million bushels of new crop soybeans Friday which is supportive. Plus, he thinks the melt down in the stock market may be bringing some money into the grains but is it enough to get the funds to blow out of their short positions? Not likely he says and Friday's bounce in the grains may not be

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10:03

Markets Now Closing Markets - 8-1-24 Audio

Markets Now with Michelle Rook ·

2024/08/01

John Heinberg, Total Farm Marketing, says corn and soybeans make new lows and hit prices not seen for four years on both supply and demand problems. Plus fund and farmer selling is pressuring the market. So how ugly could it get? Wheat sees a short covering bounce. Cattle set back with lower cash and cutouts and August option expiration. Hog futures extend gains with higher cutouts. See omnystudio.com/listener for privacy information.

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9:04

Markets Now Early Markets 8-1-24

Markets Now with Michelle Rook ·

2024/08/01

Scott Varilek of Kooima Kooima Varilek says cattle are seeing more pressure early Thursday with the futures looking tired and toppy. He says there's been a lack of cash trade this week which has fueled talk of weaker cash but he's expecting steady trade. Hogs are higher supported by stronger cash and a 13th day of the Lean Hog Index rising, plus decent weekly exports at 31,500 metric tons. Corn and soybeans continue to grind out new lows with rains this week in key areas of the Corn Belt and more

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10:37

Markets Now Closing Markets -7-31-24 Audio

Markets Now with Michelle Rook ·

2024/07/31

Grains end mixed. Mark Schultz, Northstar Commodity, says corn had a poor technical close makeing new lows and with December closing below $4 for the first time since December 2020. Soybeans make new lows as well before closing slightly higher on end of month profit taking but he says $10 is vulnerable on November with August weather favorable. Wheat traded 2-sided and mixed but may be trying to forge a low as it has dropped to levels that make it globally competitive. Live cattle were back

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9:54

Markets Now Early Markets 7-31-24

Markets Now with Michelle Rook ·

2024/07/31

Grains started mixed Wednesday but quickly see weakness creep in. Kevin Duling, KD Investors, says the funds have been relentless sellers and continue to push grains into new lows with the idea of higher production. However, he thinks the grain markets are close to forming lows at least technically and funds may reverse course if the dollar can continue to weaken with interest rates cuts starting from the Fed. Cattle continue to chop looking for direction from cash and carving out a trading

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10:46

Markets Now Closing Markets -7-30-24 Audio

Markets Now with Michelle Rook ·

2024/07/30

Grains end lower again on Tuesday seeing more fund selling pressure on the lack of news and the lack of a weather threat. Allison Thompson with The Money Farm says it could get uglier if November soybeans take out $10 and December corn $4 but she doesn't think that will happen until after the WASDE. Soft and Hard Red Winter wheats made contract lows and Minneapolis came within a cent but Thompson expects more pressure in wheat as spring wheat harvest is starting to roll and until the U.S. gets

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9:13

Markets Now Early Markets 7-30-24

Markets Now with Michelle Rook ·

2024/07/30

Cattle futures recover after a day of technical selling on Monday. Brad Kooima of Kooima Kooima Varilek says last week's higher cash trade and higher boxed beef values continue to be supportive as well as the futures discount. However, to keep going October live cattle need to take out resistance at $189. Lean hog futures trade 2-sided early trying to hold support after a wicked technical reversal last week and with help from higher cutouts and the higher lean hog index. Grains are lower with

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10:10

Markets Now Closing Markets -7-29-24 Audio

Markets Now with Michelle Rook ·

2024/07/29

Naomi Blohm with Total Farm Marketing says soybeans see another down day with rains that fell in the Corn Belt, including Iowa, and a more favorable extended weather forecast. That brought fund selling pressure in. So she says $10 may not hold on November beans. And while corn saw a little uptick with wheat Monday she says December corn is likely to take out $4. Meanwhile, wheat saw some light short covering and ideas U.S. wheat prices are becoming more competitive. Cattle set back on technical

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9:29

Markets Now Early Markets 7-29-24

Markets Now with Michelle Rook ·

2024/07/29

A risk off start Monday in the ag markets with just about everything lower except a few wheat contracts. Randy Martinson, Martinson Ag, says a change in the extended weather to cooler and wet pushed the soybeans into new contract lows and bean oil is still digesting Friday's biofuels court ruling. Corn is hold up a little better with near term weather for the Western Corn Belt still hot and dry. Wheat is trying to recover from Friday's contract lows. Cattle lower despite higher cash and cutouts

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10:47

Markets Now Closing Markets -7-26-24 Audio

Markets Now with Michelle Rook ·

2024/07/26

Darren Frye, Water Street Solutions, says grains sell off on Friday on profit taking heading into the weekend, a change in the weather and a bearish biofuels ruling. Corn and soybeans did technical damage on the daily charts, but if forecasted rains don't materialize could the markets shoot right back up Sunday night? Both classes of winter wheat make new contract lows under the pressure of ample supplies. Cotton also made news contract lows again. Meanwhile, live cattle new highs for the move

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10:54

Markets Now Early Markets 7-26-24

Markets Now with Michelle Rook ·

2024/07/26

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

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8:51

Markets Now Closing Markets -7-25-24 Audio

Markets Now with Michelle Rook ·

2024/07/25

Jim McCormick with AgMarket.Net says corn and soybeans rally on weather and technical buying. Will the funds keep buying and covering their near to record short position to keep prices moving higher or will farmer selling cap a rally? Wheat falls with the bigger spring and winter wheat yields. Cattle work in higher cash and GDP, while hogs consolidate after hitting chart resistance. See omnystudio.com/listener for privacy information.

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12:18

Markets Now Early Markets 7-25-24

Markets Now with Michelle Rook ·

2024/07/25

Livestock are mostly lower early Thursday except for nearby live cattle. Scott Varilek of Kooima Kooima Varilek says cash cattle trade has been steady so far in the South at $188 and the August futures are trying to converge so that has led to some bull spreading. Feeder cattle are under pressure with higher corn and a cooling cash index. Hogs are consolidating despite strong exports. The market has had a nice rally that was pushed by higher cash and cutouts so its taking a break. Row crops are

en-US

11:20

Markets Now Closing Markets -7-24-24 Audio

Markets Now with Michelle Rook ·

2024/07/24

Corn and wheat end mostly higher, except spring wheat. Shawn Hackett, with Hackett Financial Advisors, says funds have been covering shorts on weather concerns but today markets ended off session highs on farmer selling. Spring wheat also corrected with the Wheat Quality Tour showing record yields on Day One. Soybeans end lower also seeing hedge pressure and profit taking with bearish financial markets and the inability of November soybeans to get above the 20 day Moving Average technically.

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11:08

Markets Now Early Markets 7-24-24

Markets Now with Michelle Rook ·

2024/07/24

Grains are mixed early Wednesday. Allison Thompson with The Money Farm says soybeans consolidate with farmer selling after a weather and releif rally. While corn and wheat are higher on short covering, the lower dollar and improved demand. Live cattle extend gains with the futures discount to cash. See omnystudio.com/listener for privacy information.

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10:47

Markets Now Closing Markets -7-23-24 Audio

Markets Now with Michelle Rook ·

2024/07/23

Corn and soybeans continue to add weather premium and funds are covering shorts. Alan Brugler, Brugler Marketing, discusses how much risk premium is warranted and how much of a rally row crops could see if funds covered their massive short position. Wheat consolidates with a stronger dollar and global competition. Cotton tanks again with improved crop conditions and slow demand. Cattle extend gains with cash holding together and the futures at a discount. See omnystudio.com/listener for privacy

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10:30

Markets Now Early Markets 7-23-24

Markets Now with Michelle Rook ·

2024/07/23

Corn and soybeans are extending yesterday's gains on hotter, drier weather forecasts and concerns that will cut into crop ratings. However, Kent Beadle with Paradigm Futures, also thinks its tied to politics. Wheat sets back initially with a higher dollar but then recovers. While cattle are under pressure with higher corn and having priced in the bullish placements in the Cattle on Feed Report. Hogs are to the plus side pushed by a contraseasonal rally in cash and cutouts but Beadle expects it

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9:23

Markets Now Closing Markets -7-22-24 Audio

Markets Now with Michelle Rook ·

2024/07/22

It has been rare lately, but grain and livestock futures all ended higher on Monday. Mike Zuzulo, Global Commodity Analytics, says grain markets were adding risk premium in on U.S. and global weather threats. Plus, the funds are near to record short and so they covered some of those positions. Cattle futures got a boost from the bullish placements number in the Cattle on Feed Report, which was down 7% but can the market build on it with seasonal demand weakening? Hogs also rallied with the rest

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10:07

Markets Now Early Markets 7-22-24

Markets Now with Michelle Rook ·

2024/07/22

Brad Kooima of Kooima Kooima Varilek says cattle are higher in reaction to the positive Cattle on Feed Report placement number, which came in below expectations. Cash trade this week will be the key to keeping the rally going but he says tight numbers and the lack of negotiated business last week should provide some leverage. Hogs are also up in a risk on day and with news of China lowering short and long term interest rates driving ideas of pork exports. Grains higher on the China news but also

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9:03

Markets Now Closing Markets -7-19-24 Audio

Markets Now with Michelle Rook ·

2024/07/19

Grains end mixed Friday with corn and soybeans losing early gains and ending lower for the week. Garrett Toay, AgTraderTalk, says grains are getting low enough to stimulate demand but have an uphill fight with favorable weather and funds short. Cattle continue to consolidate ahead of the Cattle on Feed Report and steady to lower cash but at a discount to futures. Hogs were higher on continued corrective buying and higher cutouts but how Toay says a bigger recovery will be difficult. See

en-US

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Markets Now with Michelle Rook

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