Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
China’s soymeal stocks reached a record 1.38 MMT as of July 26, according to the China National Grain & Oils Information Center.
Soybeans Bounce Off New Lows While Wheat and Cattle End Mixed.
Analyst says bottom is close technically in grain markets.
How Low Could Prices Go Without a Weather Threat?
A wait-and-see approach does not erase the need to sell price strength. If you are waiting for a rally before making more sales, you’ve got to sell when prices do rally.
For the first time in nearly two years, the average cost of moving goods by truck is set to rise 0.2% annually this month, signaling a potential end to the trucking recession, according to Bloomberg.
The unprecedented price spread between U.S. and Mexican hog prices is primarily driven by reduced hog inventory in Mexico, inflationary pressures and shifts in consumer preferences.
Grains All End Lower on Fund Selling with the Lack of News and Weather Threat
Soybeans Make New Lows....Again and Pull down Corn and Wheat
Corn and Wheat See Slight Technical Bounce
The primary issue revolves around the possibility that Chinese EV manufacturers, such as BYD Co., could exploit the relatively lower tariffs and regulatory environment in Canada to gain access to the U.S. market.
Weather and USDA’s Confirmation of Higher Yields Could Make That a Reality.
A Change in the Weather Weighs on Especially Soybeans
Profit taking and biofuels ruling also play a role in pulling down markets.
Michigan Governor Gretchen Whitmer (D) recently vetoed a $3 million grant program that aimed to incentivize the sale of E15 fuel.
We recap this week’s price action and look ahead at the next 5, 30 and 90 day segments for the corn market.
Grains Could Be Part of a Bigger Reallocation in the Outside Markets
Row Crops Need Proof of Yield Damage From Hot Dry Weather
Funds Cover Shorts in Row Crops, Still Eyeing Weather
Oliver Sloup, Co-Founder of Blue Line Futures shares his take on today’s price action in the outside markets and how that could spill into some setups in grain and livestock prices.
Scott Brown, a professor at the University of Missouri, shares what he’s seeing in the beef, pork and dairy sectors
Rep. Mike Carey (R-Ohio) introduced the Biodiesel Tax Credit Extension Act of 2024, which seeks to extend the biodiesel tax credit (40A credit) through 2025.
Weather and Outside Markets Influence Grain and Livestock
Weather and Demand are the Main Factors in the Grain Markets
Grain markets were meaningfully higher in the early morning trade but gave some gains back into the afternoon. Livestock markets continued their rally in Tuesday’s trade.
In updated comments on a new farm bill, Senate Ag Chair Debbie Stabenow (D-Mich.) says the House proposal claims to enhance the farm bill but disproportionately benefits a few sectors.
These groups argue that without reforms to Endangered Species Act processes, farmers will face significant and costly restrictions that may be unnecessary to protect endangered species.
Wheat and Cotton Fail
Hogs See Follow Through Buying, But Cattle Fail