Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Grains see profit taking, with lower crude oil, U.S. and SA weather a factor as well as exports. What’s keeping grains at these current price levels and what could change that? The outlook w/Steve Freed ADMIS.
Corn and soybeans see 2-sided trade watching SA weather, export news. Wheat lower on the poor weekly exports. Livestock consolidate after early strength. Kevin Duling of KD Investors has details.
While Tyler Schau, AgMarket.Net hedging strategist, wouldn’t call this month’s report a barnburner, it did have a few market implications.
AgDay TV Markets Now: John Heinberg discusses how the lower Argentina production numbers are already worked into corn and soybean prices and what the market needs to keep pushing higher.
The U.S. exported 266.2 million lbs. of beef in December, down 10.9 million lbs. (3.9%) from November and 20.0 million lbs. (7.0%) below the previous year.
Grains up after minor U.S. changes in WASDE. Argentina cuts were bigger, but already priced in. Wheat saw short covering. Hogs bounced, while cattle consolidated.. John Heinberg of Total Farm Marketing.
Grains up after minor U.S. changes in WASDE. RGE cuts Argentina crops, but may be priced in. Wheat saw short covering, while hogs bounced and consolidated. John Heinberg of Total Farm Marketing. has details.
Grains higher after the WASDE with cuts in the Argentina corn and soybean crop outweighing the increase in corn and soybean ending stocks. Wheat saw very few changes. Jim McCormick of AgMarket.Net has details.
Conab, the Brazilian government’s crop estimating agency, released updated crop and export estimates for corn and soybeans.
Grains are firmer ahead of the report. Soybeans and meal are the strongest on SA weather. Cattle seeing more profit taking, while hogs are lower. Michelle Rook has an update.
AgDay TV Markets Now: Mark Schultz of Northstar Commodity talks about the report positioning and profit taking in grains as well as cattle after new highs.
So far this winter, grain movement in Canada has incurred few if any major problems to stymie rail shipments, according to Mark Hemmes, president of Quorum Corp., which tracks rail movement in Canada.
Grains end mostly lower ahead of the WASDE, watching SA production, crude oil. Live cattle hit by profit taking after contract highs, with short covering in hogs. Mark Schultz of Northstar Commodity has analysis.
Cattle lower, but with is this just healthy profit taking after contract highs? Hogs try to recover after new lows. Report positioning in the grains. Brad Kooima of Kooima Kooima Varilek has analysis.
Grains mixed w/report positioning and profit taking in meal and soybeans. Wheat supported on a lower crop rating in TX. Cattle consolidate after new highs. Tomm Pfitzenmaier of Summit Commodity Brokerage has more.
AgDay TV Markets Now: Alan Brugler of Brugler Marketing analyzes the lower day in soybeans and meal and what it will take to break corn’s sideways trading pattern.
A mixed day w/beans and meal down on profit taking, rising China tensions. Corn slightly higher but rangebound. LC made new contract highs with higher cutouts and cash. Alan Brugler, Brugler Marketing has more.
Grains mostly lower on technical selling, Arg. rain chances, China tensions rising. Cattle lean higher with lower corn, higher cash, cutouts. China news pressures hogs. Randy Martinson of Martinson Ag has more.
Wheat higher putting in war premium, soybeans and meal lower on profit taking and Chinese tensions. Corn is caught in the middle. Cattle consolidate, while hogs see fund selling. Kent Beadle of Paradigm Futures.
USDA’s January updates limit downside price risk but do not eliminate the risk of lower prices.
La Niña conditions continue to break down as expected, though the atmosphere is still being influenced by the phenomenon.
Grains, cotton mostly lower following outside markets like CO, higher dollar. However, SA weather still a focus. Livestock up with new contract highs in LC and better cash. Darin Newsom with Barchart has details.
AgDay TV Markets Now: Darin Newsom with Barchart talks about the risk off day on Friday and how outside markets and the South American crop will continue to drive the grain markets.
Advance sales of Brazil’s record 2022-23 soybean crop rose slightly over the past month but still trail last year and historical levels by a wide margin. . .
Grains mostly lower with the higher dollar, risk off in outside markets, plus technical selling after hitting resistance. Cattle mixed awaiting cash; hogs mostly lower. Garrett Toay of AgTraderTalk has analysis.
A mostly lower start in grain and livestock futures. A risk off day in the outside markets, with a higher dollar, spills over. Argentina conditions are mixed. Allison Thompson of The Money Farm has details.
Corn and soybean prices hit 10-year highs in 2022, creating exceptional returns to row crop producers. Will 2023 be a repeat or will prices shift lower?
Tax policy geared toward farmers and others that transfer land and other assets to heirs will get a renewed focus at the Ways and Means Committee this year, a marker of the panel’s more rural tilt.
AgDay TV Markets Now: Kevin Good of CattleFAX Has a Bullish Cattle Price Outlook for 2023