Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
USDA raised its beef production forecast for 2024, with higher expected steer and heifer slaughter more than offsetting reduced cow kills.
New Contract Lows in Soybeans and Wheat
How Low Will Grain Prices Go?
USDA’s Lower Ending Stocks May Have Helped
Increased rainfall is helping to alleviate the severe drought conditions that had forced restrictions on ship passages through the Panama Canal.
Ending Stocks go Down Instead of Up
Does This Stop the Bleeding in Corn?
Hogs Bounce Off Contract Lows
Chair Thompson criticized the Biden administration for imposing regulations he claims punish farmers and ranchers.
Markets Overdue for a Correction
Weather and Farmer Selling Also Factors
Livestock Also End in the Red
Funds Continue to Press Corn and Beans to 3-Year Lows
How Much Lower Will Prices Fall?
Cattle and Hogs Also Fail
Rain Chances in Eastern Corn Belt Bearish
Concerns about espionage, intellectual property theft, and potential sabotage of the U.S. food supply underscore the need for vigilant monitoring of foreign land purchases near critical infrastructure.
Funds Also Pressure Grains on Favorable Weather
North Trades Record $200 Cash Cattle
Major producers like Valero Energy, Phillips 66 and Calumet Specialty Products are retrofitting facilities to produce sustainable aviation fuel (SAF).
Cattle Higher Despite Lack of Cash Trade
Correcting Oversold Status
Shippers are preparing for supply-chain disruptions as Canadian rail workers, affiliated with the Teamsters Canada Rail Conference (TCRC), voted overwhelmingly to reauthorize strike action.
Funds Continue to Sell Without a Weather Threat
Mexico’s incoming administration will discard a core goal of outgoing President Andres Manuel Lopez Obrador, aka AMLO, to reduce imports of yellow corn, according to incoming agriculture minister Julio Berdegue.
Most of the Bearish News is Priced In