Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Bank of England (BOE) Governor Andrew Bailey said there was now more optimism about the prospects for inflation falling this year.
AgDay TV Markets Now: Darren Frye of Water Steet Solutions says this week’s closes in corn and soybeans will be important for keeping the uptrends intact in these two markets.
Ag markets end lower as a risk off day in equities spills over. Grains also saw technical selling and removed weather premium. Lower cash also weighed on livestock. Darren Frye of Water Street Solutions has more.
High prices will cure high prices. It is already occurring with acreage increases in South America and demand destruction in various regions.
Soybeans see more technical selling, removing weather premium, while corn and wheat stage a technical bounce. Lower equities and cash pressure livestock. Jeff Hoogendoorn of Professional Ag Marketing has more.
The lifting of Covid-19 restrictions in China is set to boost global oil demand this year to a new record high, the International Energy Agency (IEA) said.
The risk off outside markets has grain and livestock lower. Grains also seeing follow through selling after poor closes yesterday and removing weather premium. Allison Thompson of The Money Farm has more.
Historically, corn basis has been wide in the Midwest and the western Corn Belt, while tight in the East. In 2022 it was the opposite. What happened?
China, the top food importer on the planet and biggest buyer in history, is entangled in a potentially devastating population crash and the effect could be massive for U.S. agriculture.
AgDay TV Markets Now: Jim McCormick of AgMarket.Net talks about the reasons for the selloff in the grains on Wednesday including profit taking and traders removing weather premium.
Cargill and Viterra appear as charterers of two vessels to be loaded with Brazilian soybeans for delivery in Argentina over coming weeks, according to shipping data, Reuters reported.
Grains ended lower on profit taking, removing weather premium. Jim McCormick of AgMarket.Net says cattle saw short covering, but weather and report positioning were also factors. Hogs continued to slide with cash.
Cattle futures higher on short covering, ahead of cash and reports, plus putting in weather premium. Hogs lower on China news, lower cash. Grains futures lower on profit taking. Brad Kooima of Kooima Kooima Varilek.
Soybeans see profit taking, with Argentina rain chances, but follow through buying in wheat pulls corn back up. Cattle seeing short covering, while hogs await a cash bottom. Randy Martinson of Martinson Ag has more.
For 2023, evaluate your production risk. I would only become aggressive once prices move beyond your breakeven costs.
Thus, the trend of the 2023/24 ag markets is clearly balancing on a tightrope of weather.
European Union soft wheat exports since July 1 reached 17.67 MMT as of Jan. 15.
Brazil’s 2022-23 grain production will outgrow total storage capacity for the first time in 20 years . . .
U.S. export prices fell 2.6% from a month earlier in December, above expectations of a 0.5% drop.
AgDay TV Markets Now: Darin Newsom, Sr. Market Analyst for Barchart talks about whether or not the U.S. and world economies are moving into recession and what that will mean for agricultural markets and demand.
The Jan. 12 USDA reports held positive surprises for grain prices. March corn prices were up 20¢, and March soybean prices were up 35¢ for the week ending Jan. 13. Wheat prices were flat to up 11¢.
Recaps of this week’s price action and quick-read outlook for next week, 30 days and 90 days.
China imported 10.56 MMT of soybeans in December, up 19.1% from last year and the highest monthly tally since . . .
Critics told EPA in the public session the agency has underestimated the existing or expected industry capacity.
AgDay TV Markets Now: DuWayne Bosse, Bolt Marketing talks about the surprises in the USDA report and the lower South American production numbers. Are they’re game changers for corn and soybeans?
The International Grains Council (IGC) raised its forecast for global wheat production in 2022-23, driven largely by a larger-than-expected crop in Ukraine.
Grains rallied after several bullish surprises in the USDA report numbers but it the news enough to keep the markets moving higher? Livestock set back in response. DuWayne Bosse with Bolt Marketing has details.
AgDay TV Markets Now: Kent Beadle of Paradigm Futures talks about marketing strategies for the 2023 corn crop.
The Buenos Aires Grain Exchange warned it may have to cut its production forecasts for soybeans and corn for the 2022-23 growing season by up to 25% . . .
Agroconsult expects Brazil to produce record corn and soybean crops in 2022-23, despite dry weather in the far southern state of Rio Grande do Sul.