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
Darin Newsom, senior market analyst with Barchart, says grains are slightly higher Tuesday morning. While outside markets are reacting to the conflict between Israel and Iran.
Tomm Pftizenmaier of Summit Commodity Brokerage says soybeans saw some follow through buying on Monday but it was somewhat disappointing considering the limit up move in soybean oil.
Brad Kooima of Kooima Kooima Varilek says cattle futures started the day higher in recovery mode after a poor technical close on Friday and a bearish reversal lower for the week. Soybeans continue to rally on the heels of the surge in bean oil on EPA’s surprise biofuels news.
Jerry Gulke, president of the Gulke Group, says the news EPA is raising blending mandates for biomass-based diesel above expectations came as a surprise but was positive for farmers and the biofuels industry.
Soybeans were up sharply on Friday with soybean oil locked limit up on all of the contracts. Alan Brugler, A&N Economics, says it was in reaction to the EPA’s proposed Renewable Volume Obligations, which were especially bullish for biomass based diesel.
Scott Varilek, Kooima Kooima Varilek, says cattle are seeing risk off selling tied to the news overnight of escalating war between Iran and Israel which has the financial markets sharply lower. Bean oil is limit up on news of higher blending levels for biomass based diesel.
USDA lowered old crop corn ending stocks 50 million bushels, but Brian Splitt, AgMarket.Net, says the market doesn’t feel like it’s trading a 1.365 billion bushel carryout nor do the July/December spreads.
Senate Republicans on Wednesday released the agriculture section of their budget reconciliation bill.
Dave Chatterton of Strategic Farm Marketing says corn was slightly higher with tighter ending stocks, while soybeans fell on the rumor of lower RVO levels.
Craig Turner with StoneX says the markets were initially charged by news the U.S. and China had reached a trade framework. However, the deal was lacking in detail just like so many of the trade deals touted by the administration.