Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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.
Insurers are no longer offering new cargo insurance coverage for shipments out of Ukraine through the Black Sea corridor after Russia suspended its participation, industry sources told Reuters.
Grains were higher with cotton limit up on news China may relax its COVID policy. Cattle consolidate ahead of the Fed decision. Michelle Rook talks to John Payne of Hedge Point Global Markets.
Cattle consolidate ahead of the Fed announcement, with hogs up. Soybeans rallying on China and Brazil news and corn is trying to follow. Michelle Rook gets an update with Brad Kooima of Kooima Kooima Varilek.
While gasoline prices have dropped since they posted record highs in June, diesel hasn’t decreased nearly as much and currently stands at $5.31 per gallon, according to AAA.
Grains gap higher on the open led by wheat and news over the weekend Russia is suspending the export deal. Livestock set back with higher feed prices. @michellerookag talks with @kdinvestors
Grains still higher after Russia suspends grain export deal but off session highs. Cattle set back with higher grains and is cotton ever going to bottom? @michellerookag is with @jpmccormick3
Grains higher with Russia suspending the grain export deal, so how much higher do prices go? Cattle set back with higher feed prices, with hogs mixed. Michelle Rook is w/ Mike Zuzulo of Global Commodity Analytics.
Domestic U.S. shipping demand is receding and freight rates are falling, the Wall Street Journal (WSJ) reports. . .
Soybeans up w/ the Brazil truckers strike in protest to election, corn and wheat try to follow as Russia’s changes tune on export deal, Cattle consolidate ahead of Fed meeting. @michellerookag with @MartinsonRandy
Corn & wheat end lower w/stronger dollar & HRW rain, soybeans up with meal and export biz. Live cattle saw end of month profit taking w/ short covering in hogs. Michelle Rook w/ Darren Frye, Water Street Solutions.
Corn and wheat down with lower oil and the higher dollar, but soybeans rebound with export biz and higher meal. Cash basis levels strong west and south, weaker east. @michellerookag w/@FarmersKeeper
Grains lower with risk off outside markets and end of month positioning, despite soybean export biz. Live cattle correcting, while hogs are firmer on short covering. Michelle Rook talks to Rich Nelson, Allendale.
In drought areas of the western and southern Corn Belt, cash basis is on fire, which has created strong prices for farmers at harvest due to the short crop. It’s a stark contrast to the east.
Grains ended mixed with a lower dollar and higher energies providing support. Livestock mostly higher with strong cash but traded within recent highs. Michelle Rook talks to Bryan Doherty, Total Farm Marketing.
Grains mixed watching the outside markets, especially the sharply lower dollar. Cattle and hogs mostly higher pushed by strong cash. Michelle Rook gets analysis from Mark Schultz of Northstar Commodity.
Soybeans higher on fund buying and the lower dollar, corn following wheat lower w/rains in HRW areas. Cattle and hogs two-sided amid strong cash. @michellerookag with @TommPfitz
Corn & beans higher with supportive outside markets & lower dollar, wheat weak with HRW rains. Cattle saw profit taking, while hogs were up following cash. Michelle Rook talks with Matt Bennett of AgMarket.Net.
Live cattle hit contract highs, then see profit taking. Hogs correct, while corn and beans are up with the lower $ and bouncing off support. @michellerookag talks to Brad Kooima of Kooima Kooima Varilek.
Grains mixed, technical selling in corn/wheat and rain in HRW areas. Soybeans see a technical bounce. Live cattle consolidating after new contract highs, lower in hogs. @NollFamilyFarm joins @michellerookag
Live cattle hit new contract highs after bullish report, strong cash. Hogs consolidate, grains see technical selling & lack of bullish news. Michelle Rook talks with Pat Von Tersch of Professional Ag Marketing.
Grains open lower with a risk off in outside markets. Live cattle hit more new contract highs off the bullish report, hogs see profit taking. Michelle Rook has analysis with DuWayne Bosse of Bolt Marketing.
Chinese crushers reportedly have 1 MMT to 1.5 MMT of soybean needs for November that are uncovered . . .
Pro Farmer’s soybean outlook broken down into the next 5, 30 and 90 day segments.
Grains End Mixed Taking a Cue from Outside Markets, Lower Dollar While Cattle and Hogs Hit New Highs
Michelle Rook talks to Alan Brugler of Brugler Marketing to end the week.
Grain and livestock markets turn higher following reversal of outside markets and the lower dollar. Michelle Rook talks with Bryan Doherty of Total Farm Marketing about marketing advice in this environment.