Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Cattle futures plunge again on HPAI news but Scott Varilek, Kooima Kooima Varilek says cash is holding together. Hogs fall with cattle. Corn follows wheat but may not take out the top of the trading range.
Wheat ends higher for a fifth day but Darin Newsom with Barchart thinks the rally has just about run its course and that is true for corn and soybeans as well. And HPAI headlines sink cattle...again.
Grains end mixed with wheat higher for the fifth consecutive day. However, corn and soybeans don’t follow. Darin Newsom, Barchart, discusses if the fund short covering rally is about done?
Canada’s Competition Bureau said it had identified major competition concerns around the proposed merger between U.S. grains merchant Bunge and Glencore-backed Viterra.
Grain and livestock futures trade both sides of steady early Wednesday after testing the top side of trading ranges. Are grains ready to take a breather? Vince Boddicker, Farmers Trading Company, has details.
As the U.S. escalates economic sanctions against China, Beijing is preparing its retaliatory measures while cautiously considering the potential economic repercussions, the Wall Street Journal reports.
DuWayne Bosse, Bolt Marketing, says wheat continues to pull corn and soybeans higher triggering short covering by the funds. Whether it’s the start of a bigger rally is yet to be determined.
Grains end higher for a third day on speculative short covering and corrective buying. DuWayne Bosse, Bolt Marketing, says wheat is also putting in risk premium. Can it continue to lead row crops higher?
The Imperial Strathcona Refinery in Alberta is receiving a 12% tax credit for its $720 million under-construction canola-based renewable diesel facility.
Grain and livestock futures try to extend gains for a third day. Kent Beadle, Paradigm Futures, says there are several fundamentals driving it but technically markets have also seen strong action.
Jim McCormick, AgMarket.Net, says the wheat market is adding risk premium and if it keeps going corn and soybeans could follow producing a sustained fund short covering rally.
A risk on day resulted in higher closes in both grain and livestock futures. What drove the buying, and will it continue? Jim McCormick, AgMarket.Net, has details.
Cattle rally with bullish placements in the Cattle on Feed report and steady Southern cash says Brad Kooima, Kooima Kooima Varilek. Hogs fail after a chart breakout. Grains rally on EU weather/frost & short covering.
Grains close higher on Friday on short covering and putting in some risk premium, but will the rally continue into next week? Rich Nelson, Allendale, Inc, says it will be a tough lift.
USDA and the U.S. Agency for International Development (USAID) announced the release of $1 billion in previously allocated food aid.
Despite being lower for the week, the grain markets all closed higher on Friday and might have been putting in risk premium says Jerry Gulke, president of the Gulke Group.
Grains close higher on short covering and putting in some risk premium. Live cattle ended higher with steady Southern cash. Hogs broke above chart resistance. Rich Nelson, Allendale, Inc. covers it all.
Pro Farmer recaps the week’s price action for soybeans and shares outlook broken down into the next 5, 30 and 90 day segments.
Scott Varilek, Kooima Kooima Varilek says live cattle see pressure ahead of cash news and COF but have absorbed a lot of bearish news. Hogs consolidate, with short covering in grains putting in war premium.
Sales of E15 fuel blends this summer is another concern.
Soybeans continue to see South American hedge pressure and that is dragging down corn says Arlan Suderman of StoneX.
The International Grains Council (IGC) cut its forecast for 2024-25 global corn production by 7 MMT.
Soybeans make near term lows pulling down corn, wheat bounces on crop concerns. Cattle firm ahead of the COF, while outside markets continue to watch geopolitical developments. Arlan Suderman, with StoneX, has more.
Corn and beans fall on slow exports and weather. Wheat sees short covering with frost concerns in the extended forecast. How are geopolitical concerns impacting markets? Darin Newsom, Barchart, has details.
Argentina’s corn production, already cut sharply due a stunt disease spread by leafhopper insects, was “likely” to be cut further, the Rosario Grain Exchange said.
Grains end mixed Wednesday with the markets lacking bullish news. Kevin Duling, KD Investors, says wheat was the biggest disappointment.
In a move reminiscent of former President Donald Trump’s trade policies, Biden is considering tripling tariffs on Chinese steel and aluminum imports under Section 301 of the Trade Expansion Act.
Wheat sees technical selling, with corrective buying in beans and products. Corn was slightly lower in a narrow range. Kevin Duling, KD Investors discusses when will grains be an inflationary/geopolitical buy?
Grains see short covering early with a lower dollar then turn mixed searching for news. Cattle drifting preparing for the COF report. Hogs chop. DuWayne Bosse, Bolt Marketing, has more.
AgMarket.Net’s Matt Bennett says the grain markets are suffering from a lack of buying enthusiasm due to the bearish supplies.