Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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
Grains and cotton under early pressure from China COVID protests and lower crude oil. Dollar is down. Live cattle see profit taking despite higher cash. Michelle Rook with Darin Newsome of Barchart.
Corn & beans up on holiday technical buying, wheat sees technical selling with rain chances. Milk lower w/ record COVID cases in China, cattle consolidate. Michelle Rook w/ Bryan Doherty of Total Farm Marketing.
Grains see technical buying on light holiday volume, strong corn exports. Livestock 2-sided with strong exports, short covering in hogs, cattle mixed with higher corn vs. higher cash. Michelle Rook has an update.
Grains mostly higher on light holiday trade on follow through technical buying, higher crude oil and export news. Cattle lower with higher corn. Hogs are down with lower cash & cutouts. Michelle Rook has an update.
The key to soybean prices staying at current levels will be what happens with South America’s crop. Joe Vaclavik of Standard Grains says projections are for a record soybean crop in Brazil, depending on La Nina.
Grains rally back into the close with technical buying and holiday positioning. Cattle closed lower even with higher cash, hogs also sold off. Michelle Rook w/ Mike Minor of Professional Ag Marketing.
Grains mixed in typical pre-holiday positioning. Livestock mostly lower with technical selling, while cash cattle trade is higher. Michelle Rook talks with DuWayne Bosse of Bolt Marketing.
Brazil is poised to export 40 million tonnes to 50 million tonnes of corn next year, after a new trade protocol with China and a potential bumper crop.
Grain and livestock futures mixed on holiday trade. Grains also watching looming demand concerns. So how long can cash grains prices remain historically strong? Michelle Rook with Nick Tsiolis of Farmer’s Keeper.
A shrinking U.S. supply, a falling stocks-to-use ratio and the uncertainty of a third-consecutive La Niña South American growing season combined to keep soybean prices elevated through harvest.