Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Small crops are no longer getting smaller. In its November round of crop reports, USDA increased both the national corn and soybean yield by 0.4 bu.
Corn, wheat lower after WASDE w/ technical selling and possible extension of export deal. Soybeans shook off higher ending stocks on export biz, higher BO. Michelle Rook w/Chip Nellinger Blue Reef Agri-Marketing.
Grains turn mixed after initially moving lower following WASDE w/slight increase in corn, soybean and cotton yields, production and ending stocks. Michelle Rook is w/Jim McCormick of AgMarket.Net.
Brazil is now expected to produce a record 153.5 MMT of soybeans this year.
Mostly lower markets with spillover from a risk off day in outside markets w/election reaction, report positioning. Soybeans are holding up w/ 17 mb of export biz. Michelle Rook with Rich Nelson of Allendale.
China’s economy has been slowing the past several months due to continued COVID lockdowns. Since the Chinese election, however, stories have been flip flopping on a possible change in policy.
There are major concerns for the agricultural sector in Brazil.
Markets close mostly lower w/ technical selling in the grains, report positioning and fading export biz. Livestock consolidated in an inside day. Michelle Rook is joined by Garrett Toay of AgTraderTalk.
Brazil is a top-five producer of 34 agricultural commodities. As Brazilian farmers start to plant this fall, forecasts show the 2022/23 crop harvest could be the largest ever.
Wheat and corn lower on technical selling, lower crude oil and report positioning, while soybeans get help from export biz. Profit taking and money flow hit the livestock. @michellerookag @scottevarilek
Corn a& beans lower with technical selling, report positioning, despite fresh export biz. Wheat sees technical bounce watching news on export deal. Livestock see profit taking. @michellerookag @NollFamilyFarm
SovEcon estimates Russia exported 4.3 MMT of wheat in October.
Soybeans end lower as China refutes COVID policy change, corn followed. Wheat mostly higher on technical buying. Livestock rally big on a technical correction. Michelle Rook w/ Arlan Suderman of StoneX Financial.
Soybeans correct on China COVID policy, corn follows. Wheat sees technical bounce w/lower dollar. Livestock up on technical buying, higher product. Michelle Rook w/ Shawn Hackett of Hackett Financial Advisors.
The cotton market hit a two-year low on Monday, Oct. 31, but the market ended 1,494 points higher for the week, up 21%.
Markets are mixed to start with plenty of news to digest, including the WASDE, elections, CPI and China’s news they aren’t easing their COVID policy. Michelle Rook w/Tomm Pfitzenmaier of Summit Commodity Brokerage.
Recap of this week’s price action with 5-day, 30-day and 90-day outlook.
Two unions have rejected a proposed deal with railroads, while six have approved it.
The U.S. exported $13.6 billion of ag goods in September against imports of $15.9 billion, which resulted in a deficit of nearly $2.3 billion.
Updated estimates for corn and soybean crops.
Grains mostly lower w/the strong dollar, weak exports & profit taking in soybeans. Cattle consolidate despite steady to higher cash. Hogs down with weaker cash. Michelle Rook w/ Don Roose of U.S. Commodities.
Opportunity lies ahead for both sides of the market, but one must be quick and engaged with changes in geopolitics and weather to maximize success.
Grains mostly lower with higher dollar, poor exports. Profit taking in soybeans with lower meal. Cattle consolidating despite higher cash, hogs firm. Michelle Rook with Vince Boddicker of Farmers Trading Company.
Shipping giant Maersk on Wednesday warned of gloomy times ahead for global trade, even as it reported record profits stemming from high rates charged by its ocean business.
Grains and cattle under pressure with risk off outside markets, including sharply higher dollar after Fed move. Exports, cash prices also drivers. Michelle Rook talks with Darin Newsome of Darin Newsome Analysis.
Fed raises interest .75, corn and wheat move lower and soybeans are up with help from technical buying and China demand hopes. AgDay’s Michelle Rook chats with Ted Seifried of Zaner Ag Hedge.
China’s customs authority updated its list of approved Brazilian corn exporters on Wednesday.
Corn & wheat lower with Russia extending participation in export deal, soybeans held up by soybean oil. Live cattle consolidate ahead of the Fed decision,. Michelle Rook w/Chip Nellinger Blue Reef Agri-Marketing.
Grains open sharply lower on news Russia is resuming the export deal. Cattle higher w/lower corn but awaiting Fed decision and cash direction. Hogs set back. @michellerookag w/ @scottevarilek
Argentina’s government is set to announce measures soon to allow wheat exporters to delay agreed shipments after a major drought hammered the crop, raising concerns about domestic supply.