Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Grains fade the early rally ahead of month end and USDA Reports as AgMarket.Net releases its acreage estimates. Matt Bennett breaks it down.
AgDay TV Markets Now: Allison Thompson with The Money Farm discusses the ratios between corn and beans and wheat and beans and how that is impacting late minute planting decisions.
A bipartisan group of House lawmakers is urging the Biden administration to address new trade restrictions impacting U.S. biofuel exports.
The U.S. ag sector is seeking over $900 million in aid to regain overseas markets lost to competitors like Brazil and Russia.
AgDay TV Markets Now: Randy Martinson, Martinson Ag, discusses what farmers are mostly likely to plant this spring and what’s influencing their decisions.
Bottom line: The report concludes that although globalization is evolving, the relationship between the U.S. and Europe remains resilient and vital.
Baseline projections for 2024 from the Food and Agricultural Policy Research Institute (FAPRI) at the University of Missouri suggest downward pressure on prices could continue throughout 2024 and beyond.
Cattle higher Monday with near to record cash prices. However, the market fails to negate chart reversals. Has the cattle market scored an intermediate top? Scott Varillek, Kooima Kooima Varilek, has the answer.
A congressional hearing scheduled for Wednesday will delve into the perceived threat posed by China to the U.S. agriculture industry, particularly concerning the increasing foreign ownership of American farmland.
Corn and soybeans end higher Friday, despite lower wheat. Cattle recover with near to record cash. What’s next for crude oil? Chip Nellinger, Blue Reef Agri-Marketing has details.
AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing, says corn and soybeans on short covering and he thinks the funds may continue to cover short positions into the end of the month.
Members of the National Oilseed Processors Association (NOPA) crushed 186.2 million bu. of soybeans during February – by far the most ever for the month.
Jerry Gulke says he’d like to see another higher weekly close next week to help confirm the bottom is in the soybean market as well as a close above $12. A higher monthly close would be even more convincing.
Cattle try to recover after reversals Thursday with record cash trade. Is this topping action? Hogs also bounce. Grains mixed after poor technical closes, awaiting news. Scott Varilek, Kooima Kooima Varilek, has more.
AgDay TV Markets Now: Jim McCormick, AgMarket.Net, discusses why grain and livestock futures had a bad day.
Grains end lower, even soybeans after a big rally. Cattle also had a poor technical close after live cattle made new near-term highs. So, was this risk off or hedge selling? Jim McCormick, AgMarket.Net, has more.
USDA has started using global exporters’ data to estimate China’s soybean imports because a wide gap emerged between shipping figures from producing nations and Chinese customs data, a USDA official told Reuters.
Grains all lower midday even soybeans after pushing above $12 in the May contract. Allendale also releasing their annual acreage survey, we look at the results with Rich Nelson and why cattle failed.
Wheat is lower and dragging corn with it, while soybeans and products extend gains. Cattle higher with live cattle making near term highs and so is crude oil. Darin Newsom, Barchart, has analysis.
AgDay TV Markets Now: Don Roose, U.S. Commodities says grain markets have priced in the most bearish news and are adding risk premium. However, what will it take to get corn over $4.50 and soybeans over $12?
Corn & soybeans end steady after hitting chart resistance. But Don Roose, U.S. Commodities, says they’re adding risk premium. Wheat fell with China cancelling French wheat. Live cattle make new highs as hogs stall.
Grains see early pressure with profit taking, farmer selling. Wheat sees pressure from lower Russian wheat prices. Cattle extend gains. Hogs see profit taking, hedge pressure. Kent Beadle, Paradigm Futures, has more.
Soybeans up w/bean oil, on lower Brazil production. Can beans get above $12? Corn ends off highs hitting chart resistance, with farmer selling. Wheat mixed. Cattle rebound. Alan Brugler, Brugler Marketing, has more.
AgDay TV Markets Now: Alan Brugler, Brugler Marketing, says soybean rally with bean oil and Brazil crop cuts, but is $12 sustainable? Corn ends steady.
The administration says it wants to work on issues surrounding new and beginning farmers among other comments.
The U.S. Court of Appeals for the Tenth Circuit upheld a settlement agreement related to attorneys’ fees in a lawsuit concerning genetically modified (GMO) corn.
Cattle trying to recover but was Friday’s reversal action an intermediate top? Hogs mixed despite a Tyson plant closure. Grains recover after early pressure. Brad Kooima, Kooima Kooima Varilek, has more.
AgDay TV Markets Now: Mike Minor says corn and wheat score impressive reversals despite China wheat cancellations. He expects them to cancel the remaining 30 million bushels of business.
While there are factors mitigating inflation, such as the productivity boomlet and China’s deflationary impact, Malanga adds that recent data shows a rise in core PCE deflator and other inflation indicators.
The region’s economy has witnessed remarkable expansion, leading to newfound wealth and prosperity, evident in rising GDP and conspicuous consumption. However, the article also highlighted the looming threat...