Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Cattle seeing an early rally, but can they hold it or will funds sell that strength? Joe Kooima of Kooima Kooima Varilek says funds are pushing hogs to contract highs. Grains fall on favorable planting weather.
Two UC-Davis analysts in a report highlighted that satisfying sustainable aviation fuel (SAF) goals would require a significant increase in soybean plantings, almost by 50%.
Brian Grete, editor of Pro Farmer, says the grains have been rangebound and sideways awaiting the April WASDE and with not a lot of fresh news to move the markets. Cattle are trying to find a bottom.
China has initiated a new round of action to significantly increase its grain output in the coming years via an increase in planted area and yield, in the latest effort to ensure food security.
Grains continue to trade sideways looking for a catalyst to push the funds out of their short positions. Pro Farmer Editor Brian Grete says the April WASDE could provide the next piece of fresh market moving news.
Grain markets lean higher early Monday with wheat seeing a rally which is helping corn and soybeans. Kent Beadle with Paradigm Futures says live cattle are finding some support with hogs lower on profit taking.
Grains were mixed Friday, but cattle futures tanked again on HPAI fears and Tommy Grisafi, Advance Trading, says to expect more of the same next week.
National Corn Growers Association (NCGA) President Harold Wolle expressed concerns to the International Trade Commission, stating that imposing tariffs on 2,4-D could limit imports, increase prices, and...
Tommy Grisafi, Advance Trading, says grains trade quiet and rangebound ahead of planting season, with one eye on weather. Cattle saw huge market losses for the week, and he thinks that volatility may continue.
Markets get overextended and need to equalize, says Jerry Gulke, president of The Gulke Group. “The stock market got too high and is correcting, and grains got too low and might be in the same process,” he explains.
The Biden administration will release a preliminary climate model for its SAF subsidy program in the coming weeks that is more restrictive than the corn-based ethanol producers had hoped.
Grains are mostly higher early and Darin Newsom with Barchart, chalks it up to fund short covering. The dollar rallies with interest rate concerns tied to non-farm payroll data, while cattle see more fund selling.
Jeff Hoogendoorn, Professional Ag Marketing, says corn may trade range bound until more is known about the weather for the 2024 planting season, but with only 90 million acres planted it will be sensitive to any issues.
NASS will make changes to its survey work for the January Cattle Inventory Report, December Hogs & Pigs Report, Cattle on Feed Report and Milk Production Report, along with some others.
Grains lean higher except soybeans with an up day in cattle and hogs. Jeff Hoogendoorn, Professional Ag Marketing, has analysis.
Scott Varilek, Kooima Kooima Varilek, says cattle try to bounce early but rallies are hard to sustain as new HPAI headlines circulate. Hogs consolidate, while grains chop looking for direction.
AgDay TV Markets Now: Bryan Doherty, Total Farm Marketing, says grains saw more than corrective buying Wednesday and how long will cattle trade HPAI?
Former President Donald Trump has proposed a tariff plan, which includes imposing 60% tariffs on imports from China and 10% tariffs on imports from the rest of the world.
Grains stage a short covering rally but what were the fundamental factors that also drove buying? Bryan Doherty, Total Farm Marketing, says cattle and milk markets continue to see pressure from HPAI news.
Nationwide sales of E15 rose 8% to a record 1.1 billion gallons in 2023, thanks to competitive prices and the growing number of stations that sell the fuel, according to a Renewable Fuels Association analysis of data.
Kent Beadle, Paradigm Futures says grains are mixed early with wheat adding weather premium and corn trying to follow. Soybeans lower with meal. Funds back selling cattle on HPAI news, with hogs up.
Grains lower Tuesday on profit taking and risk off selling tied to outside markets. Cattle rebounded but how much can the market recover? Vince Boddicker, Farmers Trading Company has details on AgDay TV’s Markets Now.
Grains end lower on Tuesday with continued consolidation and risk off selling from outside markets. Cattle recovered, while hogs made new highs and then faded. Vince Boddicker, Farmers Trading Company, breaks it down.
The prospects for Congress approving a new farm bill in 2024 have apparently become so dim they are almost invisible, says the American Enterprise Institute (AEI).
Cattle recovering Tuesday after the HPAI selloff, while hogs are up on strong demand. Corn falls with rains in the Corn Belt, soybeans rally with the strong crush figure. Brad Kooima, Kooima Kooima Varilek, has more.
Corn-for-ethanol use totaled 441.5 million bu. during February, 1 million bu. more than traders expected.
AgDay TV Markets Now: Dave Chatterton Says Grains and Cattle Sink with Risk Off Day, Human HPAI Case
AgDay TV Markets Now: Dave Chatterton, Strategic Farm Marketing, says grains and cattle see risk off selling with human case of HPAI and a soaring dollar.
A risk off day produces a sell off in cattle and grains. Was it all the human case of HPAI? Dave Chatterton, Strategic Farm Marketing, has analysis.
The Renewable Fuels Association (RFA) is joining a legal challenge against the European Union’s FuelEU Maritime Regulation, arguing it unfairly penalizes the use of crop-based biofuels in the maritime sector.
Grains lean lower on USDA Report hangover, ideas of better wheat conditions than 2023. Cattle mostly lower w/HPAI spreading, which supports hogs despite a bearish report. Allison Thompson, The Money Farm, has more.