Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
The International Grains Council (IGC) reduced its forecast for grain exports from Ukraine and Russia.
Fed begins fight against inflation with anticipated rate hike
NWS: Warm spring, varied precip outlook
The current surge in Brazilian wheat exports might encourage farmers to expand their wheat acreage, according to some agricultural consultants.
Black Sea ag markets research firm SovEcon reduced its Ukraine grain production forecasts based on the Russian invasion and weather conditions.
India’s government is expected to announce several actions in the coming weeks to help it replace global wheat supplies, according to government sources Reuters reported.
April live cattle rose 52.5 cents to $140.85, the contract’s highest closing price since $141.425 on Feb. 28. April feeders edged up 20 cents to $162.60.
Russia attacks Ukraine’s agriculture infrastructure
Only 4.7 million hectares of spring grain will likely be planted in Ukraine this year, down 39% from last year, according to Black Sea ag consultancy APK-Inform.
Russia has not banned grain exports yet
Russia may suspend exports of wheat, barley, corn and rye starting Tuesday and lasting until June 30, the Interfax news agency reported on Monday, citing the agriculture ministry.
Ukraine President Volodymyr Zelenskyy is urging farmers to sow as many fields as possible to protect the food supply.
Soybeans will be bidding for U.S. acres in the next three years (and longer) to feed crush expansion.
Brazil announced a national fertilizer plan to reduce imports by 40% by 2050.
Meeting in Germany, the G7 agricultural ministers ask all countries to keep their food and agricultural markets open.
Corn prices are above $7.50 per bushel and soybean prices are near or above $16 per bushel. As prices stay elevated, will demand diminish? Time will tell, says Jerry Gulke, president of the Gulke Group.
WOTUS has remained a source of friction & controversy since the Obama admin. put forth its more-restrictive definition in 2015 that was then replaced by the Trump admin. via the Navigable Waters Protection Rule.
The broader economic and geopolitical situation seemed to weigh upon cattle futures Thursday.
Volatility is here to stay in the grain markets — but so could higher prices.
Price rationing could last at least 15 months, or until the 2023 South American soybean crop is seen as a record.
Russia will provide farmers with short-term loans with preferential rates worth over 160 billion rubles to ensure they have access to the inputs for a successful planting season, according to Prime Minister Mishustin.
With the recent Russian invasion of Ukraine, farmers should consider revenue protection crop insurance at a high level, according to agricultural economists on the University of Illinois farmdoc website.
In the March World Agricultural Supply and Demand Estimates (WASDE) report, USDA made a deeper cut than expected to global soybean production.
Oil prices are expected to increase to an average of $117 per barrel for March, up $20 from its February average, EIA said in its Short-Term Energy Outlook.
Grain and cotton prices will likely continue to push higher, Goldman Sachs said in a note to investors and reported by Bloomberg.
We could be headed for a volatile year – or more – in both ag commodities and energy. Here are just a few reasons for strong prices.
U.S., Britain and Shell Oil halt Russian oil imports