Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
China cancels 10 Brazil soybean cargoes
Hopes for docile agriculture markets in 2022 have already been blown out of the water. Instead, we could be headed for a volatile year – or more.
USDA Secretary Tom Vilsack wants the Department of Justice (DOJ) to ensure seed companies and other input suppliers are not using their market power and current conditions to raise prices unfairly.
With a forecast for one more week of hot and dry weather conditions and then a shift to more rain, Argentina’s crop stress might be near the peak, according to World Weather Inc.
In front of the Senate Committee on the Environment and Public Works, the biofuels industry stressed the importance of the Renewable Fuel Standard (RFS) to a clean energy policy.
April lean hog futures rose $1.25 to $105.40, the highest settlement for a nearby contract since prices topped $110.00 in August.
China can reduce its soybean demand by 30 MMT by continuing to promote lower soymeal rations in feed and using alternative proteins, the official Xinhua news agency reported, citing unnamed agriculture officials.
Members of the National Oilseed Processor Association (NOPA) crushed 182.2 million bu. of soybeans in January, down 4.2 million bu. from the December record . . .
Crop insurance price guarantees might be higher than last year for corn and soybeans, according to USDA Chief Economist Seth Meyer at the Crop Insurance Convention.
Anticipation of continued cash market strength boosted live cattle futures, as illustrated by the February contract’s $2.50 premium to last week’s live steer average of $140.48.
Crop Consultant Dr. Michael Cordonnier says he was holding out hope that production losses due to drought in southern Brazil would be partially offset by stronger yields in central and northern areas.
March corn futures rose 4 3/4 cents to $6.55 3/4, the highest close for a nearby contract since $6.83 on July 14. December corn rose 3 1/2 cents to $5.98 1/4 after posting a contract high.
The University of Michigan’s Consumer Sentiment Index dropped to 61.7, from 67.2 in January and down from a 76.8 reading in February 2021.
Soybean prices have a chance of hitting the all-time high of $17.94 3/4 a bushel set in 2012 said Alex Sanfeliu, head of Cargill’s World Trading Group. . .
Due to drought in the country, Paraguay’s soybean production could drop to 5 MMT this year . . .
U.S. farm groups representing thousands of farmers and farmer-owned cooperatives that will be harmed by EPA’s decision to revoke all tolerances of chlorpyrifos are taking legal action against the agency.
That is not an efficient way to collect and process information — it’s likely to leave you dazed, confused and unable to even make a decision. Here is my advice.
The U.S. could impose new tariffs on Chinese goods if current trade talks with the country break down and the U.S. conducts a new trade investigation, according to the U.S. Chamber of Commerce.
The agreement between the states in the Mid America Association of State Transportation Officials increases emergency interstate truck weights to 88,000 lbs.
USDA cut its forecasts for Brazil, Argentina and Paraguay soybean crops, though the crop pegs remain above those of many private crop forecasters.
Dry conditions in South America continue to damage crop potential.
USDA cuts South American soybean production, trims carryout
An $80.7 billion deficit in December drove the U.S. 2021 calendar year trade red ink to a record $859.1 billion, the U.S. Census Bureau and the U.S. Bureau of Economic Analysis reported.
As Brazilian farmers are planting their safrinha corn crop, they face atrazine shipping delays and unexpected canceled deliveries. . .
Wheat futures rose after Stats Canada reported a big drop in the country’s inventories at the end of 2021, fueling concern over tight supplies of milling-quality wheat.