Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
USDA estimated that U.S. growers will plant 97 million acres of corn this spring, an 8% increase over 2019, but analysts say recent sharp declines in ethanol production make it doubtful that number will hold true.
Chicago wheat futures hit a two-month low on Tuesday, pressured by improving U.S. winter wheat crop ratings, strong export competition and rising estimates of Australia’s harvest, analysts said.
January soybeans were up 6 cents at $11.75-3/4 a bushel after peaking earlier at $11.89-3/4, the highest for a most-active contract since June 13, 2016.
Corn Planted Acreage Up Less than 1 Percent from 2020 Soybean Acreage Up 5 Percent All Wheat Acreage Up 5 Percent All Cotton Acreage Down Less than 1 Percent
Corn Stocks Down 3 Percent from March 2020 Soybean Stocks Down 31 Percent All Wheat Stocks Down 7 Percent
January’s Crop Production and Stocks reports from USDA raised a number of questions about big shifts in production projections. NASS Crops Chief Lance Honig addressed those questions on AgriTalk.
WASDE for February raised exports and lowered ending stocks for both corn and soybeans.
But for FY 2017, the ag trade surplus is up notably from year-ago.
While China grapples with choosing which production lines to reopen, the food shortage conversation looks to ramp up.
Ethanol production fell 62,000 barrels per day (bpd) for the week ended Sept. 16 . . .
Profit taking hit grain and livestock prices Wednesday ahead of the Fed announcement. The exception was wheat trying to retain war premium. Michelle Rook get s details from Tommy Grisafi of Advance Trading.
Grain and livestock prices are mixed with many markets consolidating with the strong dollar and awaiting the Fed and Black Sea news. Michelle Rook is joined by Oliver Sloup of Blue Line Futures.
Markets start mixed on Wednesday awaiting Russia Ukraine developments and the Fed announcement. As harvest starts what is happening to cash basis levels? Michelle Rook talks to Nick Tsiolis of Farmer’s Keeper.
While the initial production outlook is strong, Cordonnier says with La Niña still present, it could impact South American crops for a third year in a row.
Livestock futures mixed on Tuesday. Live cattle hit new highs except October then faded. Grain prices were higher with wheat leading the rally. Michelle Rook talks with Brad Kooima of Kooima Kooima Varilek.
Port of Long Beach Executive Director Mario Cordero told Bloomberg News he expects the pandemic-era surge in U.S. consumer demand that snarled supply chains will start to cool. . .
Grain prices rally. Wheat leads on corrective buying, pulls row crops, despite negative outside markets. Deferred live cattle hit contract highs. Michelle Rook talks with Vince Boddicker of Farmers Trading Company.
U.S. tariffs levied against Chinese products in 2018 were not “punitive” tariffs, according to U.S. Trade Representative (USTR) Katherine Tai and are not “punishing” China.
Grain and livestock prices are higher early, except soybeans. Grains see corrective action while funds buy in livestock with higher cash supportive. Michelle Rook talks with Allison Thompson of The Money Farm.
Canadian Prime Minister Justin Trudeau’s push to accelerate the fight against climate change is sparking a showdown with the nation’s farmers, who say it’s threatening food supplies and their profits.
Grain prices ended mixed with row crops shaking off the early risk off in the outside markets. Livestock leaning higher with cash supportive. Michelle Rook talks with Pat Von Tersch of Professional Ag Marketing.
Soybean prices rebound on China export biz. Wheat lower on higher dollar and technicals, pulling down corn. Cattle prices mostly higher on higher cash ideas. Michelle Rook talks with Ted Seifried of Zaner Ag Hedge.
Grains open under pressure with a sharp selloff in wheat a drag, plus the outside markets. Cattle futures see early bounce with higher cash ideas. Michelle Rook gets details with Randy Martinson of Martinson Ag.
Pro Farmer shares their latest outlook for soybeans.
Grain and livestock futures ended mixed on Friday. Money flow and technical trading dominate action heading into the FOMC meeting next week. Michelle Rook talks about that with Alan Brugler of Brugler Marketing.
Grain and livestock futures turned mixed at midsession, trying to recover after a lower risk off opening. Michelle Rook gets an update with John Heinberg of Total Farm Marketing.
Grain and livestock opened lower as economic concerns drive risk off outside market mood, causing technical and fund selling in commodities. Michelle Rook talks with Mike Zuzulo of Global Commodity Analytics.
Markets close mixed on Tuesday. The risk off session and outside market reaction to the CPI triggered corrective action in both grains and livestock. Michelle Rook gets details with Brian Grete of Pro Farmer.
Grains and livestock futures mixed early. Outside markets are stabilizing, providing some support. Michelle Rook talks with Scott Varilek of Kooima Kooima Varilek.
Grain and livestock futures continue mixed, with outside markets stabilizing after the PPI data. John Payne of Hedge Point Global Markets joins Michelle Rook with analysis.