Market Analysis
Corn and soybean markets were up on corrective buying and putting in weather premium. Wheat followed. Cattle saw profit taking after a neutral COF report, hogs hit contract lows. Naomi Blohm, Total Farm Marketing.
Corn & soybeans bounce technically as they are oversold but also putting some weather premium in. Wheat falters on poor demand. Cattle consolidate after a neutral COF. Tomm Pfitzenmaier, Summit Commodity Brokerage
After a two-year bull markets, grain prices have set back well off the highs. So are the commodity markets in reset or is this just part of a larger commodity super cycle?
AgDay TV Markets Now: Don Roose with U.S. Commodities talks about the ugly week in grain markets and why the funds keep selling. When will it end?
Grains failed Friday as funds sold on bearish fundamentals, poor technicals and the debt ceiling stalemate. Cattle were the bright spot with steady to higher cash, new high in feeders. Don Roose of U.S. Commodities.
Grains mixed after a higher start looking for support but is this bottoming action? LC trade firmer cash but cautious ahead of the COF. Milk markets struggle w/demand & supply. Bryan Doherty, Total Farm Marketing.
Grains are trying to recover, but are these short term lows? Was wheat chasing headlines this week? Cattle strong with some firmer cash. And what are outside markets hinting on the economy? Darin Newsom, Barchart.
AgDay TV Markets Now: Mark Schultz of Northstar Commodity says funds are selling in grains with the lack of a bullish supply or demand story.
The job market is strong, and the economy is slowly growing. However, there are four complicating issues making investors defensive, which reduces money flow to the markets.
Funds continue to sell in grains w/ no bullish supply or demand story. When does the bleeding stop? Cattle are the bright spot w/fats pricing in steady to higher cash. Hogs mixed. Mark Schultz, Northstar Commodity.
Funds accelerate selling in grains and hogs early with no bullish news but are trying to find support. Cattle stronger w/lower corn and higher cash ideas. Chip Nellinger with Blue Reef Agri-Marketing.
Live cattle 2-sided ahead of COF, corn pushes feeders higher. Hogs consolidate despite stronger cash. More fund selling in corn and wheat, but soybeans are try to recover. Scott Varilek, Kooima Kooima Varilek.
AgDay TV Markets Now: Vince Boddicker of Farmers Trading Company talks about the meltdown in grains as Dec corn closes below $5, Nov. soybeans below $12. Is the low close?
Commodity wide fund selloff but grains pressured by China corn cancellation, Black Sea Grain deal, big crop. Livestock mostly lower except nearby LC, on steady cash ideas. Vince Boddicker, Farmers Trading Company.
Markets see commodity wide fund selling on bearish news including: China corn cancellation, Black Sea Grain deal, big yield ideas. However are prices close to a low? Shawn Hackett of Hackett Financial Advisors.
Grains are mostly lower with fund selling on the China cancellation, Black Sea Grain deal. Wheat trades tour results. Livestock mostly lower in consolidation mode. Allison Thompson with The Money Farm has more.
AgDay TV Markets Now: Matt Bennett with AgMarket.Net explains the selloff in the grains on Tuesday and if Nov soybeans will hold $12 and Dec corn $5.
Grains and live cattle end mostly lower on spec selling on a risk off day. Sharply lower bean oil, planting pace and profit taking in the wheat were also features. Matt Bennett, AgMarket.Net explains.
Grains see spec selling and profit taking, with fast planting pace. Soybeans hit by bean oil at 2-year lows. Cattle pricing in steady cash, with funds buying in hogs on firmer cash. Kent Beadle, Paradigm Futures.
Cattle 2-sided with firm cash vs. risk off. Hogs see follow through technical buying. Risk off in grains, weather, planting pace cause profit taking. Brad Kooima of Kooima Kooima Varilek.
AgDay TV Markets Now: Arlan Suderman, StoneX says funds bought across the commodity sector Monday. In the grains #wheat was the price leader Monday, pulling #corn and #soybeans higher.
Funds buy in grains with concerns about wheat production and the Black Sea Grain deal. Cattle narrow the gap between cash and futures, while hogs sense a seasonal cash bottom. Arlan Suderman of StoneX has more.
Grains up as funds put in war premium. Wheat leads on crop concerns with Jul KC over $9. Livestock cattle are consolidating after the higher week, while the higher LHI helps hogs. DuWayne Bosse of Bolt Marketing.
Grains up putting in war premium w/the Black Sea Grain deal uncertain, but wheat is pricing in crop concerns. LC consolidate after a higher week, feeders and hogs strong. Randy Martinson, Martinson Ag. has details.
The WASDE report was bearish for corn with a 2.22 bb ending stocks estimate and beans at 335 mb. But bullish for wheat with the lower HRW crop. Jim McCormick of AgMarket.Net has price reaction.
Markets digest record corn and soybean production in the May WASDE. With abandoned acres, winter wheat is the bullish surprise.
AgDay TV Markets Now: John Heinberg with Total Farm Marketing explains the market reaction to the bullish wheat surprise and bearish corn and soybean numbers in the WASDE Report.
Winter wheat’s rally held up corn with ending stocks at a bearish 2.22 billion bushels. How low do soybeans go to price in a 335-million-bushel carryover? John Heinberg, Total Farm Marketing, shares his insights.
Grains mixed ahead of the WASDE Report. What should we watch for and how much is baked into prices? Livestock 2-sided. Cattle have worked in lower cash, hogs Prop 12. Mike Zuzulo of Global Commodity Analytics.
AgDay TV Markets Now: Rich Nelson of Allendale says funds sell in corn and wheat on exports, weather and WASDE, while soybeans follow meal higher.