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
Cotton surged to a two-and-a-half-month high in early trade and notched gains for the fourth straight session amid U.S. dollar weakness, a rally in equities and robust export demand.
Grains close mixed & fail to confirm a low with a lack of follow through in corn & soybeans after reversals, strong weekly exports and China soybean biz. Tomm Pfitzenmaier, Summit Commodity Brokerage, has more.
We asked seven commodity market analysts to give commodity market outlooks for 2024 With their insights, the bearish market conditions will carry over, with a slightly more optimistic outlook for soybeans over corn.
Grains extend gains after reversals, with strong exports & China soybean sales. Kevin Duling, KD Investors, says he can’t confirm a low yet. Cattle consolidate ahead of COF, while crude oil sees profit taking as well.
Cattle 2-sided after chart breakout, awaiting cash and the COF. Hogs continue to correct. Grains extending gains after reversals and with better export news. Scott Varilek, Kooima Kooima Varilek, has more.
Dan Basse: “Importantly, managed money is sitting on their largest net short CBOT grain position in four years.”
Naomi Blohm: “The U.S. soybean story remains quite friendly to start 2024 with historically small ending stocks and strong crush demand.”
Peter Meyer says, “Both the corn and soybean markets will need to take their lead from changes in both global and domestic demand given the production shortfall stories have become stale.”
Chip Nellinger says, “Producers should be prepared to be more aggressive than years past in protecting downside price risk.”
“Near term, the soybean market has a loftier perch with a tight balance sheet emerging from supply headwinds,” says Mike North.