Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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.
The Federal Energy Regulatory Commission approved two new rules Monday that are expected to make it easier to expand the construction of big power lines and bring more renewable energy to U.S. homes and businesses.
Grains saw profit taking, farmer selling, China tariffs & higher Brazil crop estimates. Milk reversed off contract highs, while cattle rallied with lower corn, higher beef. Bryan Doherty, Total Farm Marketing, has more.
The ministry called on the U.S. to correct its “wrongdoings” and cancel the tariffs.
Grains see profit taking on the announcement of additional China tariffs, plus Conab raises Brazil estimates. Livestock bounce on short covering, higher products, lower feed. Kent Beadle, Paradigm Futures, has more.
Grains rally led by wheat on continued crop concerns and fund short covering. Live cattle lower despite the futures discount to cash. Hogs fall on the futures premium to the LHI. Brian Grete, Pro Farmer, has more.
Brian Grete, Pro Farmer editor, says wheat led the price rally in wheat once again adding weather premium on global production concerns.
USDA raised its 2024 beef production forecast 139 million lbs. from last month on expectations of higher slaughter during the second half of the year and heavier carcass weights.
Grain & livestock futures are mostly higher. Brad Kooima, Kooima Kooima Varilek says cattle are at a discount to steady to higher cash which is supportive, Hogs see short covering. Grains continue to add risk premium.
Chip Nellinger, Blue Reef Agri-Marketing, says if rains continue to delay planting and wheat areas like Russia and the Southwest Plains miss forecasted rains that could continue to drive buying interest in the grains.
Grains end higher on Friday after the WASDE but was the market trading the report or was it weather and fund short covering? Chip Nellinger, Blue Reef Agri-Marketing, has more plus talks cattle.
Soybean production is cut; and a Brazilian soy crusher halted operations amid severe flooding.
Jerry Gulke, president of the Gulke Group, says in the report USDA finally rectified the old crop corn carryover figure trimming it by 100 million bushels with an increase in demand.
As corn and soy prices hit a three-year low, farmers are less inclined to invest in new machinery, leading to an inventory surplus and reduced sales for equipment dealers. Notably...
Grains higher post-WASDE. U.S. numbers came in friendly for corn, neutral for wheat but bearish for soybeans. So, is the market trading the report or is it fund short covering? Matt Bennett, AgMarket.Net, has more.
Cattle and hogs both try to bounce but the cattle market lacks confidence due to bird flu says Scott Varilek, Kooima Kooima Varilek. Grains higher but can those gains hold in the face of a potentially bearish WASDE?
Tommy Grisafi, Advance Trading, says grain prices are well off their lows on crop concerns but he cautions farmers weather markets can be volatile and fleeting.
Tomm Pfitzenmaier, Summit Commodity Brokerage, says the early new crop estimates for the May WASDE are larger than last year which is potentially bearish, but still in line with the USDA Ag Outlook Forum.
Looking ahead, three special elections are scheduled in districts that traditionally lean Republican, potentially expanding the GOP’s majority.
The fate of the tax incentives beyond 2027 is another major uncertainty.
Arlan Suderman, ,StoneX, says the rally into new highs for the move was met with farmer selling and funds took a pause heading into the WASDE, but they may not be done lightening their short position.
Grains ease on Tuesday on farmer selling and lack of fund buying. Arlan Suderman with StoneX says weather concerns may be priced in until after the WASDE.
According to a recent update from the OECD, International Monetary Fund (IMF) and World Trade Organization, global trade is projected to experience a significant rebound this year.