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
Corn & wheat lower on profit taking, Soybeans off lows with higher BO, watching weather. Cattle 2-sided w/profit taking pre-reports and despite higher cash. Hogs consolidate. DuWayne Bosse, Bolt Marketing has more.
I believe the top lesson from the 2022 crop year is farmers need to put aside the market hype and look to sell grain on rallies, or at least protect high prices with put options.
The Fed being hellbent on fighting inflation will temper grain commodity prices in the year ahead.
Be careful to match cost exposures to revenue opportunities and not squeeze margins when one moves the wrong way. Remember: Things change quickly, so remain flexible.
For 2023, key market factors are the same as 2022 — China demand and South American production.
Questionable corn demand and expected production highs in South America bring major questions to the corn and soybean outlooks. Yet positive factors are evident.
“Human nature is to do nothing, but that means you can end up with three years of corn on your farm,” says Ben Brown, agricultural economist at the University of Missouri. “This strategy makes you proactive.”
Grains mostly lower with profit taking on better extended weather, but still supported by global supply concerns. Chuck Shelby, Risk Management Commodities says cattle and hogs supported by higher cash.
The International Grains Council (IGC) raised its forecast for 2023-24 global corn production to 1.22 billion metric tons, reflecting an improved outlook for the United States.
To encourage fair treatment of specialty crop and small farmers, Sen. Cory Booker (D-N.J.) and Rep. Andrea Salinas (D-Ore.) are proposing a new bill: the Insuring Fairness for Family Farmers Act (IFFFA).