Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Farmers should not count on an Ag Risk Coverage (ARC) or Price Loss Coverage (PLC) payment for the 2022-crop marketing year, according to University of Illinois farmdoc agricultural economists.
I am keeping an eye on China’s soybean crushing pace. It might be slowing, which could lead to weaker soybean imports and weaker prices.
Brazil’s soybean harvest continues to be ahead of last year, according to various agricultural consultants.
Wheat futures climbed sharply on short covering and bargain-buying following three straight down days.
December NOPA soybean crush record-large
After starting 2022 off on the positive side, the grain markets were lower the second week of January.
March soybean futures fell 7 1/2 cents to 13.69 3/4, down 40 1/2 cents on the week and the contract’s lowest settlement since $13.55 1/2 on Jan. 3.
It’s time for a reality check on 2021-crop corn, soybeans and wheat. If you haven’t locked in prices (and record returns on investment for many), why haven’t you?
LanzaJet announced Microsoft is investing $50 million in its sustainable aviation fuel biorefinery in Georgia to produce jet fuel next year.
La Niña conditions are likely to continue during the Northern Hemisphere spring.
March SRW wheat futures fell 11 cents to $7.46 3/4, the lowest close in a week. March HRW futures fell 18 1/4 cents to $7.59 1/4, the lowest closing price since $7.54 on Oct. 21.
Dryness in South America prompted USDA to cut production estimates for key countries, such as Brazil, Argentina.
Economists at Texas A&M University recently completed two studies on impacts of surging fertilizer prices for farms.
After proposing in December the 2022 ethanol blending requirement will be 15 billion gallons, the Biden administration is thinking about reducing it before it becomes final . . .
Biden considering reducing 2022 ethanol blending requirement from initial proposal
In reaction to the reports, corn is still trading 2-3 cents lower, soybeans are 1-3 cents higher, winter wheat futures are 9-12 cents lower, spring wheat is 4-7 cents lower and cotton is 75-200 points higher.
EPA has forwarded to the Office of Management and Budget (OMB) for review a proposed rule regarding canola oil pathways for renewable diesel, jet fuel, naptha and liquid propane gas under the RFS.
USDA and the U.S. Trade Representative announced India has opened its market to U.S. pork imports.
With temps around 117 degrees, Argentina will likely see its hottest temps on Friday and Saturday since Jan. 23-24, 2014, according to World Weather Inc.
Corn futures traded mixed as traders evened up positions before tomorrow’s USDA reports. March futures edged up 1 1/4 cents to $6.01.
Argentina temps will be the hottest in about eight years
With the Biden administration eyeing a rewrite of the “Product of the USA” label, Sen. Roger Marshall (R-Kan.) introduced the Bona Fide Beef Branding Act of 2022 . . .
Unfavorable weather continues to reduce production potential in South America, with Argentina and southern Brazil facing hot and dry conditions, while areas of central and northeastern Brazil are too wet.
USDA’s January crop reports tend to swiftly move markets since there’s so much data.
The Supreme Court rejected appeal by Growth Energy to reinstate an EPA rule that would have permitted year-round sales of fuel containing as much as 15% ethanol.
Supreme Court rejects appeal to reinstate year-round E15 sales
Cargo vessels can load more corn and soybeans and reduce shipping costs due to dredging progress on the lower Mississippi River, according to the Soybean Transportation Coalition.
Consumers are willing to pay more for retail meat and most food service meat, according to the monthly Kansas State University Meat Demand Monitor.