Commodity Markets, Prices & Futures
Use the chart below to check futures prices for commodities. Click the links for pricing on grains, livestock, oil and more and stay on top of what’s going on in the markets. Cash price reflects the USDA Chicago terminal.
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Latest News from Markets
Grains turn mixed after early pressure. Jon Scheve with Superior Feed Ingredients says the markets are searching for direction, but weather is still the main focus. He has marketing advice.
Corn-for-ethanol use totaled 416.9 million bu. in April, well below analysts’ expectations.
Alan Brugler, Brugler Marketing, says it was a risk off day in grain markets which were removing risk premium. They also did technical damage.
Alan Brugler, Brugler Marketing, says it was a risk off day in grain and cotton markets removing weather premium. The lack of money flow into grains, the stock market and crude oil was also evident to start June.
Consultancy StoneX cut its Brazilian safrinha corn crop forecast by 3.9% from last month. StoneX also cut Brazil’s 2023-24 soybean crop, which has been nearly totally harvested.
Cattle fall after lower weekly closes and softer cash trade, holding chart support. Hogs struggle on fund selling. Soybeans pull corn lower and wheat off its highs. Brad Kooima, Kooima Kooima Varilek, has more.
Grain futures ended lower for the week removing weather premium. Naomi Blohm, Total Farm Marketing, says, “It feels like it’s doing a warning shot just to remind us that the crop is getting planted.”
Technically, Jerry Gulke, president of the Gulke Group, says weather rallies can be fleeting and this week there were sell signals in the grain market.
The potential consequences of not renewing the USMCA include significant economic and trade disruptions, increased policy and regulatory uncertainty, weakened enforcement of labor and environmental standards.
Grain and cattle futures end mostly lower on Friday and were lower for the week. Naomi Blohm, Total Farm Marketing, says weather, crop ratings and what the funds want to do next will determine future market direction.