Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
It’s still too early to tell the long-term impacts for farmers with EPA’s proposal for renewable fuels, says Jerry Gulke. But the short-term effect was a price drop.
Updated Canadian wheat estimates.
Massive technical selling in corn and wheat, closing below key support. Soybeans recovered despite lower BO. Livestock mostly higher, with firm cash cattle and technical buying. Darren Frye, Water Street Solutions.
Fund selling took corn and wheat below key support areas Friday. How much lower could markets go? Can soybeans recover if soybean oil continues to slide? Darren Frye Water Street Solutions has the answers.
Pro Farmer shares their latest soybean outlook.
Grains mixed with more fund selling in corn and wheat, while soybeans bounce despite lower soybean oil. Livestock higher, with strong cash cattle trade and lower corn. Chip Nellinger of Blue Reef Agri-Marketing.
Argentina’s wheat production outlook is likely to face more cuts due to lower-than-expected yields, the Buenos Aires Grain Exchange said in its weekly report.
Corn and wheat see more technical selling w/a higher dollar. Technical bounce in beans, despite the continued selloff in BO. Live cattle see early pressure despite steady to higher cash, profit talking in hogs.
Grains lower, with soybeans hit hard following an implosion in soybean oil after EPA released the RFS volumes. Slow exports added to the technical selling. John Payne of Hedge Point Global Markets has details.
Live cattle lower as steady cash disappoints. Hogs extend gains on short covering. Grains down with slow exports, profit taking, lower soybean oil a drag on soybeans. Pat Von Tersch with Professional Ag Marketing.
Cattle mostly higher with steady cash, hogs mixed with disappointing exports. Grains start lower with slow exports and sharply lower BO. Scott Varilek of Kooima Kooima Varilek has analysis.
Early November corn trade provided a glimpse of what to expect from a post-harvest corn market. Corn futures rolled over and through the bottom of the sideways trading range. But there was no “panic.”
Argentina’s government hiked the price of biodiesel for domestic consumption, aiming to keep its price just below the current high inflation rate.
Soybeans made new highs for the move, with higher meal. Wheat saw short covering, funds sold corn. Cattle higher with steady cash and hogs also saw short covering. Bryan Doherty of Total Farm Marketing has details.
Farm-state Sens. Deb Fischer (NE) and Amy Klobuchar (MN) unveiled a bill to allow year-round sale of E15 and other blends of ethanol higher than the traditional 10%, with a big difference: support of the oil industry.
Grains close higher, except corn. End of the month and outside markets influence. Soybeans follow meal w/Argentina weather concerns, but can we push past $15? Bryan Doherty, Total Farm Marketing has the answer.
Grains up w/ soybeans making new highs for the move as Congress votes to avert the rail strike, China demand news supportive. Cattle consolidating, short covering in hogs. Kent Beadle, Paradigm Futures has details.
A higher midday trade except corn futures, with new highs for the move in soybeans. Michelle Rook gets details with Jeff Hoogendoorn of Professional Ag Marketing.
U.S. ag exports in fiscal year (FY) 2023 are projected at $190.0 billion, down $3.5 billion from USDA’s August forecast.
Grains closed mixed Tuesday with end of the month positioning. Ted Seifried with Zaner Ag Hedge says Tuesday was a bookmark day but corn and beans are still rangebound despite the recent liquidation by the funds.
Grain and livestock futures end mixed after two-sided trade due to end of the month positioning. Ted Seifried of Zaner Ag Hedge called it a “bookmark day” as the market await more news.
Grains and hogs mixed and 2-sided at midday. Cattle see technical bounce but will LC retest last week’s contact highs and what is the cash outlook this week? Michelle Rook asks Brad Kooima, Kooima Kooima Varilek.
West Texas intermediate crude oil prices hit an 11-month low of $73.60 per barrel Monday before rebounding to close higher. So, what is driving the market and how long will these lower price levels last?
New York Federal Reserve President John Williams said on Monday the U.S. central bank still has more work to do to lower high levels of inflation, and he also noted he expects to see a notable jump in unemployment . . .
Follow through buying in soybeans with dryness in Argentina, more technical selling in wheat, corn is caught in the middle. Cattle and hogs are mixed. Michelle Rook with Vince Boddicker Farmers Trading Company.
Food-price inflation hit multidecade highs this year in the U.S. and elsewhere, outpacing overall consumer prices.
With less than two weeks from a railroad strike deadline, President Biden plans to call on Congress to take action to avert a shutdown of the country’s freight railroads. . .
Tomm Pfitzenmaier, Summit Commodity Brokerage discusses how soybeans scored a reversal with crude oil, higher products and dryness in Argentina. Wheat saw more technical selling and corn was caught in the middle.
Soybeans up w/ CO, product strength, Argentina drought. Wheat saw more technical selling, with corn caught in the middle. Livestock lower on economic concerns. Michelle Rook w/Tomm Pfitzenmaier, Summit Commodity.
Corn and wheat lower on China COVID concerns, poor exports. Soybeans reverse w/strong exports and a rebound in crude oil. Livestock down on demand fears. Michelle Rook is w/Shawn Hackett, Hackett Financial Advisors