Corn sees more fund selling with China cancellations, soybeans follow with concerns about the cheaper crop in Brazil and the future of tax credits for renewable diesel and SAF, plus weather. KC, MN wheat add weather premium. Cattle set back on the COF placements number and with lower cash last week, while hogs bounce. Randy Martinson of Martinson Ag has details.
Funds Back Selling Soybean & Corn on China Cancellation, Brazil Competition: Cattle Softer on COF, Cash
Fund selling in corn w/China cancellation, beans follow w/uncertainty on biofuels tax credits & Brazil’s cheaper crop. KC, MN wheat add weather premium. Cattle softer on COF, cash. Randy Martinson, Martinson Ag.
April 24, 2023 11:45 AM
Related Stories
Wheat futures were up 30 to 35 cents early Wednesday adding risk premium as Russia and Ukraine attacks have escalated says Jamie Gieseke with Paradigm Futures.
Rich Nelson, chief strategist for Allendale says row crops are pausing right now until the weather story is really decided, while wheat is concerned about rising tensions in the Black Sea region.
Kevin Duling with KD Investors says corn and soybeans eased with a 1% improvement in ratings, while the weather is moderating.
Read Next
Penfield, Illinois auction delivers record sales while nearly-new 8R 370s fetch $385K at separate Missouri sale.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
