Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Grains end mixed on Wednesday. Mark Schults, Northstar Commodity says soybeans led the rally and pulled corn along, while wheat hit near term highs and then faded on farmer selling.
Drought in two key Brazilian corn-growing states is reducing the potential size of the country’s safrinha corn crop, according to Agroconsult, as the consultancy kicks off a countrywide field tour.
Wheat makes near term highs before farmer selling hits, corn & soybeans try to hold gains on planting delays, talk of China soybean buys. Cattle make near term highs. Kent Beadle, Paradigm Futures, has more.
John Heinberg, Total Farm Marketing says wheat had a chart breakout Tuesday and follow through buying will be important Wednesday. Meanwhile, corn and soybeans see Turnaround Tuesday on planting progress.
A quick transition from El Niño to La Niña and a dominating lunar cycle has six analog years, all of which suggest below-normal rainfall and warmer temps during summer, according to World Weather Inc.
Wheat made new highs for the move on Tuesday. John Heinberg, Total Farm Marketing, says Wednesday’s close will be important to see if there is follow through buying to keep the rally going. Corn and beans consolidated.
Ship diversions from the Red Sea due to attacks by Iran-backed Houthi rebels have caused container freight rates to increase by about 30% in recent weeks.
Winter wheat continues to rally on global production concerns and fund buying. Corn and beans are seeing corrective and farmers selling on planting progress. Cattle strong. DuWayne Bosse, Bolt Marketing, has details.
Mike Zuzulo, Global Commodity Analytics, says the wheat market is taking its cue from the Paris wheat futures which is pricing in production concerns in the Black Sea and Europe.
Wheat resumes its weather rally on global production concerns, pulling up corn and soybeans. Cattle take a breather despite higher cash. Hogs struggle on China news. Mike Zuzulo, Global Commodity Analytics, has more.
For the first time in two years a uniform set of data reports is suggesting that restrictive monetary policy may be starting to bite, says Dr. Vince Malanga, president of LaSalle Economics.
President Joe Biden’s decision to raise tariffs on selected goods from China, impacting roughly $18 billion worth of imports, is expected to stir conflict within supply chains over who will bear the cost.
Cattle futures pulled up by last week’s strong cash, cutouts. Hogs try to bounce. Grains add weather premium but can markets get above last week’s chart resistance? Brad Kooima, Kooima Kooima Varilek, has insight.
Jim McCormick, AgMarket.Net, says corn and wheat saw technical selling and profit taking for the last four sessions after running into chart resistance. It could be seasonal top without fresh weather concerns.
Jim McCormick, AgMarket.Net, says corn and wheat futures tried to rally several sessions and ended lower after running into chart resistance. That could be a seasonal top unless there is a bigger weather story.
A Wood Mackenzie report highlights that a victory for Donald Trump in the Nov. 5 presidential election could jeopardize $1 trillion in energy investments, particularly those supporting low-carbon energy sources.
Six major commodity groups, including the National Corn Growers Association (NCGA), sent a letter to ITC in April encouraging it to vote against advancing a petition.
Cattle futures make near term highs pushed by higher cash and cutouts. Hogs fail with the futures premium to the LHI. Scott Varilek, Kooima Kooima Varilek has details. Corn needs to hold key support, soybeans run.
Grains end mostly lower except nearby soybeans and bean oil. Mike Minor, Professional Ag Marketing, says this may just be just a routine consolidation as the market waits for a bigger weather story to emerge.
Grains end mostly lower except nearby soybeans and bean oil. Is this a healthy correction or topping action? Mike Minor, Professional Ag Marketing, has the answer and insight on the rally in livestock.
The IMF criticized the Biden administration’s decision to aggressively raise tariffs on some Chinese goods, underscoring its warning that tensions between the world’s top two economies risk hurting global trade & growth.
Bioceres Crop Solutions has begun sales of genetically modified (GM) wheat seeds in Argentina, the first time the technology has been commercially available to farmers anywhere in the world.
Grains start higher led by wheat on global crop concerns, but the markets can’t get above chart resistance. Cattle higher following a surge in wholesale beef. Randy Martinson, Martinson Ag, has details.
Grains faded early day strength. Dave Chatterton, Strategic Farm Marketing, says the bulls need to continue to be fed by a bigger weather story as the funds have covered a large portion of their short position.
Catastrophic floods in southern Brazil will have long-lasting impacts for agriculture, with soaked soils making it harder for farmers to plant crops.
Grain markets fade early gains, but what triggered the selloff? Dave Chatterton, Strategic Farm Marketing, says the bulls need to continually be fed for funds to keep buying.
After the three-year hiatus of down markets, grains have turned positive at least in the short-term, which is the first element of turning long-term positive.
A major U.S. producer of renewable diesel, defended imports of used cooking oil (UCO) as a feedstock to produce biofuels.
Grains back higher today but Darin Newsom with Barchart thinks it’s mostly technical buying and seasonals. He’s doubtful the market is really concerned about U.S. or global production concerns.
Grains eased on Tuesday on profit taking after running into some chart resistance and Bryan Doherty, Total Farm Marketing says the markets were overbought and due for a correction.