Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Grassley criticized EPA for relying heavily on foreign records to verify compliance with the Renewable Fuel Standard (RFS), calling the approach inadequate.
The uncertainty surrounding potential U.S. tariffs is already exerting significant pressure on the global economy, according to a Bloomberg Economics model.
Matt Bennett, AgMarket.Net, says corn and soybeans came back from early profit taking pressure to end steady as trader position ahead of Friday’s USDA reports and watch South American weather.
Kent Beadle with Paradigm Futures says corn and soybeans are seeing profit taking and farmer selling after hitting chart resistance on Monday at previous highs and retreating.
The U.S. Treasury Department’s new regulations for the Clean Hydrogen Production Tax Credit (45V) broaden eligibility for hydrogen producers utilizing biomethane or renewable natural gas (RNG).
Southern California’s prolonged dry spell — nearly eight months with negligible rain — is straining agriculture and raising concerns about wildfire risks.
Naomi Blohm of Total Farm Marketing says corn, soybeans and soybean meal saw fund buying and weather premium being added early in the session with hot and dry weather forecasts for 15 days out in Argentina and Southern Brazil.
Brad Kooima of Kooima Kooima Varilek says cattle futures recovered nicely from Friday’s selloff with some contracts making new highs for the move, pricing in record cash cattle trade. Grain markets are seeing fund buying with soybeans and meal leading on dry weather forecasts for Argentina.
A new economic study paints a troubling picture of the potential results a renewed U.S./China trade war could have on farmers and the ag sector.
Randy Martinson, Martinson Ag, says corn and soybeans saw early pressure as both markets ran up into chart resistance which triggered fund profit taking.
Allison Thompson with The Money Farm says corn and soybeans both ran up into chart resistance and are seeing some profit taking by technical traders.
Sen. Katie Britt (R-Ala.) criticized the Biden administration for allegedly conducting secretive renegotiations of key trade agreements.
Darin Newsom with Barchart says corn and soybeans were higher on technical buying and adding some weather premium with a hot dry extended forecast for Argentina and Southern Brazil. Cattle futures followed record cash in the South.
DuWayne Bosse, Bolt Marketing, says corn scored a new six month high close for the move on dryness in the extended forecast in Argentina and funds adding to their long position.
Brazil’s central bank made another intervention on the final trading day of the year to stabilize the real.
Highlights of a look ahead at 2025 from Dr. Vince Malanga, president of LaSalle Economics.
With strong demand fundamentals the corn market may be able to continue to march higher. Vince Boddicker with Farmers Trading Company says he’s not ruling out $5 corn but it will take several factors to push to that level.
Scott Varilek, Kooima Kooima Varilek, says cattle futures are extending gains after a higher week in the futures and with higher cash trade. Grains are seeing technical buying but dryness in Argentina is also a concern.
Tommy Grisafi with Nesvick Trading Company says the grain markets saw light holiday trade and rebalancing of portfolios end of year. However, the higher weekly closes were encouraging, especially corn at a six month high.
The mere threat of his universal tariffs is sparking a scramble that’s leaving the global trading system prone to bottlenecks, saddled with higher costs and vulnerable to disruptions should an economic shock come along.
Brazil’s soybean and corn exports revealed contrasting performances in November, according to the latest Logistics Bulletin from the National Supply Company (Conab).
Corn ethanol, along with other feedstocks, could play a pivotal role in supplying SAF for the aviation industry, which accounts for about 2.5% of global greenhouse gas emissions.
Garrett Toay, AgTraderTalk, says corn made six month highs and finally closed above the 200 day moving average which has been tough chart resistance.
Brazil’s soybean crushing capacity over the next three years is expected to increase at nearly twice the rate of the last three years, according to Itau BBA’s Agro Consulting.
The B40 policy is expected to support palm oil prices in 2025 by increasing domestic demand and tightening global supplies
Brad Kooima, Kooima Kooima Varilek, says the nearby live cattle were lower despite steady to higher cash and the divergence is frustrating. Corn climbs after closing at a six month high Friday, while soybeans fade. How long can these markets continue to move in opposite directions?
Jerry Gulke, president of the Gulke Group, says the weekly continuation chart corn is trading above the October high, the 50-day and the 200-day moving average. “The chart is telling us to have a little patience in this uptrending market,” he adds.
Chip Nellinger, Blue Reef Agri-Marketing says soybeans recovered off Thursday’s new contract lows on fund short covering and profit taking, plus market talk that China was in buying soybeans. Corn put in the highest weekly close in six months.
Grain markets are seeing value and technical buying but Kent Beadle of Paradigm Futures says the rebound in soybeans is supported by a recovery in the Brazilian Real.
The impact of these tariffs would extend beyond farmers, affecting rural communities where agricultural activities play a crucial economic role.