Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
A mostly higher close except wheat, w/ more short covering in corn and beans but how much more recovery will we see? Cotton prices firmer, while cattle up following cash. Shawn Hackett, Hackett Financial Advisors.
Corn, soybeans see more short covering, w/strong meal & drop in Argentina crop ratings. Cattle up with strong cash, putting in weather premium, hogs up for now. Scott Kooima of Kooima Kooima Varilek has details.
Markets mostly higher. More short covering in grains w/ the lower dollar and declining Argentina ratings. Soybeans hit 50% retracement. Cattle bounce with firmer cash. Randy Martinson of Martinson Ag.
With USDA’s carryover estimates trending higher and price outlook trending lower from last year, many expect the sideways trends in new-crop futures to continue until the next shift in the fundamental outlook.
AgDay TV Markets Now: Soybeans and wheat continued to recover on Thursday, but corn wasn’t able to maintain its early strength. DuWayne Bosse of Bolt Marketing explains why.
It’s too soon for details yet, but it is clear based on our sources the U.S. crop and livestock insurance programs are being closely reviewed.
Grains see follow through buying and short covering but are the bottoms in? More profit taking in the cattle so is this topping action? Darin Newsom, Sr. Market Analyst with Barchart has the answers.
AgDay TV Markets Now: Grains finally see a short covering bounce Wednesday but after the selloff in grains what should farmers be doing for marketing? Tomm Pfitzenmaier of Summit Commodity Brokerage has advice.
Corn-for-ethanol use totaled 443.6 million bu. in January, according to USDA.
The firm says yields in other areas of Brazil are expected to more than compensate for any losses caused by drought in Rio Grande do Sul.
The most recent land use survey showed that China’s total arable land decreased from 334 million acres in 2013 to 316 million acres in 2019, a loss of more than 5 percent in just six years.
AgDay TV Markets Now: Ted Seifried of Zaner Ag Hedge talks about why the funds continue to sell the grains and how much technical damage has been done to corn and soybean charts.
Lawmakers are pushing for EPA emergency action to allow year-round E15.
Another day of fund selling in the grains when does it end? Cattle continue to charge higher with more contract highs in feeders, how high will that market go? Ted Seifried of Zaner Ag Hedge has the answers.
Fund selling continues as corn & beans have broken major support. Wheat is trying to bottom. Cattle back into contract highs with lower corn, higher cash ideas. Tomm Pfitzenmaier, Summit Commodity Brokerage.
Livestock mixed on end of month positioning. However, cattle should be supported by higher cash ideas this week. Funds continue to sell in grains taking out support. Brad Kooima of Kooima Kooima Varilek has more.
AgDay TV Markets Now: Kevin Duling of KD Investors talks about the continued fund selling in grains and how much lower the markets may go.
The Brazilian government is set to resume the collection of federal taxes on fuels this week, the Finance Ministry said on Monday.
Another mostly lower day with fund liquidation in the grains. How much lower will prices go? Live cattle see profit taking, fade the COF. Hogs also consolidated. Kevin Duling of KD Investors has details.
Grains see more fund selling, improved weather weighs on wheat. Cattle faded the COF initially but have rebounded with strong fundamentals. Hogs back lower. Kent Beadle, Paradigm Futures has more.
More technical selling in grains and chart support needs to hold. Wheat also under pressure w/moisture in HRW areas. Cattle fade a bullish COF Report, hogs 2-sided. Allison Thompson, The Money Farm has details.
The acreage numbers were not too surprising, says Jerry Gulke, president of Gulke Group. What held a bigger punch was the demand picture.
AgDay TV Markets Now: Arlan Suderman of StoneX Group discusses the risk off in commodities to end last week and if funds will continue to sell the grains with lower weekly closes.
Price action and outlook for the next 5, 30 and 90 days.
USDA is projecting higher production of major commodities for the upcoming crop season for the U.S. and globally, releasing their baseline projections for the upcoming marketing year at the USDA Ag Outlook Forum.
Risk off in outside markets, increasing inflation talk sparks more technical selling in grains. With lower weekly closes will the funds continue to liquidate next week? Arlan Suderman of StoneX has the answer.
The risk off day in the outside macro market has funds selling across the commodity complex. Kevin Duling of KD Investors says May corn needs to hold support at $6.50 and wheat prices are below pre-war levels.
Fund liquidation continues in the grains. Cattle make new highs on higher cash, cutouts, lower corn, COF positioning. Hogs follow higher cutouts, strong weekly exports. Scott Varilek, Kooima Kooima Varilek has more
AgDay TV Markets Now: Mike Zuzulo of Global Commodity Analytics Discusses What Led to the Selloff in Corn and New Highs in Cattle
A large portion of the safrinha corn crop in Brazil’s Parana and Mato Grosso do Sul states will be planted outside the ideal window, according to AgRural.