AgDay
Hosted by Haley Bickelhaupt, AgDay provides the nation’s farmers and ranchers with the latest news, weather and business headlines, and features the people and places unique to the industry and small-town America.
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Dave Chatterton, Strategic Farm Marketing, says row crops are in a tug of war that could keep the markets sideways for a while.
Brad Kooima of Kooima Kooima Varilek says cattle were due for a slight correction and could ease their overbought status just by moving sideways. Grains are rebounding in part due to fresh flash export sales on corn and soybeans.
There is still uncertainty about whether the guidance for the 45Z credit will be available before the credit takes effect. This could potentially create challenges for producers planning to claim the credit in early 2025.
As agriculture faces multiple challenges, USDA’s latest net farm income forecast is masking the reality for farmers. While livestock margins have improved for 2024, high input costs and below breakeven prices for row crops means margins could be the worst in nearly 20 years.
Weekly overview of ag commodity market news and price action compiled by Austin Schroeder with Brugler Marketing. Not intended as trading advice. Actions taken are responsibility of the reader.
“The bottom line is the function of the market — when you have too much, you become the cheapest seller, not necessarily the cheapest producer,” says Jerry Gulke.
As harvest ends, focus on next year’s crop planning by understanding break-even costs and budgeting inputs. This will boost profitability and enhance your negotiating power.
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Tommy Grisafi, Advance Trading, says grains faded bullish export news and closed lower Friday and for the week.
Farmers and lawmakers are focused on disaster relief, economic aid and completing the farm bill.