Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
The U.S. exported 304.0 million lbs. of beef during April, which was a record for the month and the second highest tally ever behind May 2021.
The U.S. exported $17.61 billion of ag goods against imports of $17.63 billion . . .
Strategas chief economist Don Rissmiller coined the Rule of 10 in 2011 — a theory that the U.S. economy is troubled when interest rates combined with energy prices reaches double digits.
Ag economists told the House Agriculture Subcommittee on General Farm Commodities and Risk Management Thursday that high input costs will likely persist even after commodity prices decline. . .
House Democrats are touting legislation that would create a special investigator for agricultural competition and permanently allow year-round sales of E15 fuel as inflation-fighting tools.
Some Republican senators are looking at options for blocking the Biden administration from requiring small oil refiners to comply with U.S. biofuel-blending rules.
A Ukrainian ag ministry official said on Monday the country’s grain harvest was likely to drop to around 48.5 MMT this year from 86 MMT last year following Russia’s invasion.
Heat advisories are in effect for the central U.S. today and tomorrow
EPA will release its proposed rule on the 2023 volume standards for biofuel under the Renewable Fuel Standard (RFS) in September. . .
China’s soymeal inventories have tripled over the past three months as large volumes of soybeans arrived in the country and feed demand is weak.
The U.S. government filed a brief to the Supreme Court supporting the National Pork Producers Council (NPPC) and Farm Bureau challenge to California’s animal housing law. . .
In the midst of a crop tour of Brazil’s main corn areas, Agroconsult raised its safrinha corn crop estimate . . .
The American Soybean Assoc. provided comments to USDA’s request for information on competition in the seed market, “underscoring the need to ensure growers have access to affordable inputs and a healthy market.”
Private analytics firm IHS Markit Agribusiness on Wednesday raised its estimate of U.S. corn plantings . . .
Federal Reserve Bank of Cleveland President Loretta Mester said the risk of a recession in the U.S. economy is increasing, and that it will take several years to return to the central bank’s 2% inflation goal.
As the West endures another year of unrelenting drought, the Colorado River’s reservoirs have declined so low that major water cuts will be necessary next year . . .
Slowing delivery of Russian natural gas in Europe is starting to reach into industrial supply chains.
Russia, the world’s largest wheat exporter, will change its formula for calculating grain and sunflower oil export taxes to support shipments amid a strong ruble currency, Reuters reported.
Broad economic prospects for rural America may be looking up for the first time in years, even in the face of inflation and the risk of recession, the Wall Street Journal reports.
Soft wheat production in Romania is expected to fall to 9.31 MMT next season from last year’s record of 11.15 MMT due to. . .
The head of the International Monetary Fund (IMF) on Wednesday said the outlook for the global economy had “darkened significantly” since April. . .
Canadian farmers planted 25.4 million acres to wheat tis year, up from 25.0 million acres forecast in April and 2 million acres (8.7%) more than last year, according to Statistics Canada (Stats Can).
In the U.S., La Niña events tend to favor warmer and drier weather over the southern U.S., which can sometimes push up into Corn Belt.
ProFarmer’s Brian Grete says these market dips coming out of Independence Day weekend generally set the tone for the weeks to come.
Grain markets can’t sustain recovery midday, livestock rally.
Funds have been liquidating longs in the commodity sector on recession fears. Will that continue?
Funds liquidate in the commodities. So is there more pressure ahead?
Markets try to stage a recovery on the opening Wednesday.
Multi-year grain sales are intimidating. But a big-picture focus can pay dividends in grain marketing, says Chris Barron with Ag View Solutions.