Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Soybeans higher with new contract highs in soybean meal on Argentina weather, corn and wheat see corrective buying. More profit taking in cattle w/ lower cutouts, while hogs up. Michelle Rook has analysis.
The ISM Services purchasing managers index released Monday unexpectedly jumped to 56.5 in November, rebounding from a more than 2-year low of f 54.4 hit in October...
Indonesia is making plans to bring B35 biodiesel (diesel fuel with a 35% mix of palm oil-based fuel) to the market in 2023, according to Chief Economics Minister Airlangga Hartarto.
Soybeans higher following new highs in meal, Argentina dryness and export biz. More technical selling in corn, wheat. Livestock lower on consolidation, lower product values. DuWayne Bosse of Bolt Marketing.
Livestock consolidating with higher feed prices and weak product values. However, cattle supported by strong cash. Grains mixed with corn following higher beans and meal. Brad Kooima, Kooima Kooima Varilek.
Soybeans are up with meal, 18.5 mb of export biz, dryness in Argentina, corn is trying to follow while wheat sees fund selling w/record Aussie crop. Livestock consolidate with higher corn and lower products
La Niña is in its 29th month of existence but it should be in decline, according to World Weather Inc., who says its influence on the world will be greatly diminished in January and February . . .
More technical selling and fund liquidation in the grains. Lower CO and the higher dollar also pressured the market late. Livestock ended mixed. Michelle Rook has details with Randy Martinson of Martinson Ag.
Soybean slightly higher w/ China’s easing COVID policy, export demand. Corn & wheat see more fund liquidation w/ slow demand. Cattle up w lower corn & strong cash, fund buying in hogs. Michelle Rook has analysis.
Markets are mixed early. Can corn and wheat recover after technical damage or will funds sell more? Soybeans up on easing China COVID policy. What’s ahead for cattle? Kevin Duling of KD Investors has details.
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.