Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Nearby soybeans gained on spillover from the wheat market’s steep rally but faded on profit-taking and indications that stepped-up Chinese demand and a South American crop shortfall are factored into prices.
Egypt looking at plans for wheat procurement
The Biden administration may have to open the Conservation Reserve Program (CRP) to cropping this year because of grain shortages that could result from the Russian invasion of Ukraine.
The 2022 spring crop insurance price for corn is $5.90, $1.32 higher than last year.
China is heading into peak demand season for many commodities.
U.S. open to Russian oil sanctions, just not yet
Corn buyers, especially those in Benelux, Iberia, the Middle East and North Africa, are changing their purchases to the EU from Ukraine due to the Russian invasion, according to traders.
Major global grain producers and exporters Russia and Ukraine remain in a full-scale war with no end in sight and that’s keeping the grain futures markets unnerved.
IEA members agree to release 60 million barrels of oil
The global soybean crop keeps shrinking, led by a massive decrease in South America.
Ukrainian ports will remain closed until the Russian attack is over, according to the head of Ukraine’s Maritime Administration Vitaliy Kindrativ.
Brazil’s soybean harvest was 44% complete as of Feb. 24, according to ag consultancy AgRural.
Talks lead to no end to Russia/Ukraine fighting
Russia’s attack on Ukraine is expected to halt the processing and export of Ukrainian oilseed crops for at least one month, curbing flows of sunflower seed to the European Union, consultancy Strategie Grains said.
During his press conference at USDA’s Ag Outlook Forum, Ag Secretary Tom Vilsack said it was “too early to tell” what the impacts will be from the Russian invasion. . .
Possible talks surface as the Russian invasion continues
USDA now predicts an $11.0 billion ag trade surplus for fiscal year (FY) 2022. That is up $500 million from its prior outlook and $2.1 billion above FY 2021.
Iowa Attorney General Tom Miller announced Iowa State University agriculture economist John Crespi will conduct an economic summary of fertilizer markets and the rapid prices increases.
AgriTalk’s Davis Michaelson hosted Vince Malanga, president of LaSalle Economics, on Tuesday, Jan. 25, to dive into the current events and potential market impacts.
Clinton Griffiths talks with market experts to dive into how these global events will impact the agricultural markets and more.
U.S. and world respond to Russian invasion of Ukraine
USDA released is initial 2022-23 balance sheets at the start of its annual Ag Outlook Forum this morning.
The world changed quickly over the last days, requiring a reassessment and perhaps “reset” in thinking.
A proposed decree between Growth Energy and EPA would require them to set the final Renewable Fuel Standard (RFS) levels for 2021 and 2022 by June 3, 2022.
USDA will release its 2022-23 projections on Thursday morning at its Outlook Forum, including its 2022 acreage forecasts.
Nearby winter wheat futures soared to the highest levels in over nine years on concern Russia’s escalating aggression toward Ukraine will disrupt the global grain trade.
Investments in commodity markets highest since 2007
A top Indian commodities trader plans to increase ethanol production by 60,000 liters per day after purchasing 100,000 liters per day capacity ethanol plant.
The shipment broke the record by 2,271 MT set in 2020.
Nearby soybean futures rose to a nine-month high as escalating Russia/Ukraine concerns fueled broad strength across commodity markets.