Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Grains see corrective buying end of month, hit resistance, plus risk off in outside markets. Profit taking in LC after new contract highs, while hogs continue their recovery. Rich Nelson of Allendale has more.
AgDay TV Markets Now: Matt Bennett of AgMarket.Net talks about the SA weather rally in soybeans and meal and if those markets can move higher? Plus, live cattle hit contract highs on higher cash.
Expected large Brazilian corn exports to China in 2023 are worrying Brazil’s meat companies, according to a statement from Santa Catarina’s meat processors lobby Sindicarne.
Grains mostly higher with new contract highs in soybean meal putting in SA weather premium, but how high can prices go? Live cattle hit new contract highs on higher cash. Matt Bennett of AgMarket.Net has details.
Grains higher except corn, with weather concerns in South America. How much higher can soybeans go? Live cattle make new contract highs with help from higher cash. Ted Seifried of Zaner Ag Hedge has analysis.
Attorneys general (AGs) representing seven Midwest states are against asking EPA to issue a waiver that would allow E15 to be sold in the region, starting this summer.
The Biden administration should pursue enforcement action against Canada and Mexico where necessary, Senate Finance leaders Ron Wyden (D-Ore.) and Mike Crapo (R-Idaho) said in a letter...
“It’s been a quiet week except for wheat,” says Jerry Gulke, president of Gulke Group. “Wheat has some promise, but we’ll have to see what happens in Ukraine and also with the weather.”
AgDay TV Markets Now: Randy Martinson of Martinson Ag talks about Friday’s market action and how all the grains posted higher weekly closes despite improved weather in Argentina and HRW areas.
USDA’s attaché in Australia expects the country’s wheat crop to be slightly bigger than currently forecast by the Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) and USDA.
Grains close mixed Friday. Profit taking & Argentina rain weigh on soybeans, but all the grains had higher weekly closes. Cattle were up on $156 southern cash. Randy Martinson, Martinson Ag has more.
Egg prices in the store are at 50-year highs prompting a Federal Trade Commission investigation into price gouging. but one economist says it isn’t warranted.
Grains mixed after early profit taking, Argentina rains, but are working on higher weekly closes. Livestock are mostly higher on short covering, despite soft cash. John Heinberg of Total Farm Marketing has more.
Livestock opened higher but live cattle fade after disappointing cash. Hogs are failing to build on yesterday’s technical reversal. Grains lower on profit taking. Scott Varilek of Kooima Kooima Varilek has more.
One of the top concerns for farmers heading into the 2023 growing season is high input costs. However, one input — fertilizer — looks surprisingly less expensive than a year ago.
AgDay TV Markets Now: Vince Boddicker of Farmers Trading Company talks about the combination of factors that drove the grain rally on Thursday.
Grains higher on technical buying, higher CO, export news, Arg crop losses, weather & risk premium. Profit taking in cattle w/steady to lower cash. Hogs bounce. Vince Boddicker, Farmers Trading Company has more.
Grains higher with technical buying, weather and export news all factors. Cattle seeing profit taking awaiting cash, while hogs see some short covering. Michelle Rook has details.
USDA’s attaché in Beijing reports: “Feed mills have resumed mixing more corn in feed rations as higher prices for wheat and sorghum . . .
Grains and cotton higher with technical buying and supportive export news. Cattle seeing profit taking awaiting cash. Hogs also lower. John Payne of Hedge Point Global Markets.
AgDay TV Markets Now: Don Roose Discusses if Soybeans and Meal are Putting Weather Premium Back In ?
AgDay TV Markets Now: Don Roose of U.S. Commodities talks about the bounce in soybeans and meal and if they’re adding Argentina weather premium back in? Plus, will deferred live cattle continue to make new highs?
Mexico is already self-sufficient in production of white corn but is highly dependent on imports for yellow corn.
Soybeans, meal end higher and may have taken out enough weather premium. Wheat saw short covering, but corn couldn’t follow. Deferred live cattle scored new contract highs. Don Roose of U.S. Commodities has more.
Livestock mixed, with cattle awaiting cash direction. Grains trying to hold gains led by wheat, have soybeans taken out enough weather premium? Jeff Hoogendoorn of Professional Ag Marketing has analysis.
Updated acreage forecasts from S & P Global.
Wheat sees corrective buying, soybeans more technical selling with good rains in Argentina. Corn is caught in the middle. Cattle and milk markets are lower. Bryan Doherty of Total Farm Marketing has details.
AgDay TV Markets Now: Pro Farmer’s Brian Grete talks about the corrective bounce in corn and wheat and why soybeans couldn’t hold $15.
Corn and wheat saw corrective buying, but soybeans couldn’t stay above $15 with farmer selling and improved weather in Argentina. LC saw fund buying, while hogs were lower. Brian Grete, Pro Farmer has details.
Cattle futures lower with higher corn and fears of lower cash, hogs can’t find a bottom. Grains started off with some corrective buying but it’s drying up in soybeans. Brad Kooima of Kooima Kooima Varilek has more.
Grains seeing a technical bounce, but will it hold? Cattle under pressure in response, while hogs are slightly higher but are they trying to bottom? Tomm Pfitzenmaier of Summit Commodity Brokerage has details.