Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Newsom looks at when corn and soybeans normally put in a harvest low and if that changes when there are predictions for bumper crops.
Low Feed Prices Make Cattle Margins Attractive
A Harris administration would likely continue the “climate-smart” initiatives in the Inflation Reduction Act, but a second Trump administration would put the future of sustainable aviation fuel in question and extend the use of liquid fuels.
Chip Nellinger, Blue Reef Agri-Marketing, says time is running out on old crop sales.
Unless labor agreements are reached, Canadian National Railway and Canadian Pacific Kansas City will shut nearly all freight rail services in Canada at midnight on Thursday, snarling shipments of everything from wheat to fertilizer and meat.
Excess old crop supplies of corn need to be moved before a record crop is harvested. Tomm Pfitzenmaier of Summit Commodity Brokerage shares some options.
Markets will look for confirmation of record yields from the tour for direction.
Wheat sees a short covering bounce, while cattle fall with fund liquidation and lower cash.
USDA Secretary Tom Vilsack announced funding for 160 projects across 26 states to expand clean energy systems and boost domestic biofuels.
Farmer Selling of Old Crop Corn Pushes September Into New Contract Lows
Members of the National Oilseed Processors Association (NOPA) crushed 182.9 million bu. of soybeans in July.
Details on the latest production forecasts from the International Grains Council.
Agency Makes Adjustments to Spring Wheat Production and Acreage.
However, if the Brazilian real were to rally, it could negatively impact Brazilian soybean producers by reducing their competitive advantage and increasing the costs of imported agricultural inputs like crop nutrients and pesticides, which are priced in dollars.
Soybeans Make New Lows But Can They Find Support at $9.50 on November?
USDA raised its 2024 beef production forecast 81 million lbs. from last month due to higher steer/heifer and cow slaughter, which more than offsets lighter dressed weights.
Bears are trading the idea that big crops, get bigger. Meanwhile, cattle rebound on lower corn.
Cattle Rebound But Will the Funds Use This Strength to Liquidate Long Positions?
And How Low Do Soybeans Have to Go To Price in a 560 Million Bushel Carryout?
Where Do Prices Go Now to Work in The WASDE Numbers?
USDA Raises Yield and Harvest Acres on Soybeans, Resulting in Ending Stocks 125 Million Bushels Higher Than July.
The Funds Push Corn and Beans Into New Lows but Have They Over Shot Heading Into the August 12 WASDE?
A recap of the week’s price action and outlook broken down into the next 5, 30 and 90 day segments.
Wheat, Cattle and Hogs All Higher on Friday
Money Flow Continues to Influence the Ag Markets
Stock Market Volatility and Recession Concerns Cause Fund Long Liquidation in Cattle Futures
Senate Ag Committee Chair Debbie Stabenow (D-Mich.) announced that progress on the farm bill has stalled due to Republican resistance to compromise on SNAP and climate funding.
The $800 million grain export facility project planned by Greenfield Louisiana LLC in Wallace, Louisiana, has been canceled after extensive delays in obtaining federal permits.
Could Corn Test the 2014 Low of $3.18?
A bipartisan and bicameral group of lawmakers is urging the Department of Commerce to “carefully review the facts” in its investigation into whether preliminary duties should be imposed on imports of the herbicide 2,4-D from China and India.