Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Mike Zuzulo with Global Commodity Analytics says farmers and funds have sold in the corn market the last couple of sessions with uncertainty on several fronts, including growing concerns about the USDA reports.
Row crops remained under pressure on supply concerns, wheat was mixed. Cattle recover, so is the panic selling over? Mike Zuzulo, Global Commodity Analytics, has price action.
Ambassadors from European Union countries reached an agreement regarding Ukrainian grain, extending tariff-free trade until June 2025.
Corn and soybeans, plus cattle continue to see technical selling pressure. Report squaring, plus HPAI news and the port closure have been negative for the markets. DuWayne Bosse, Bolt Marketing, covers it all.
Chuck Shelby, Risk Management Commodities, says grain and livestock were mostly lower Tuesday as funds sold with the uncertainty surrounding the HPAI cases in dairy herds as well as the Baltimore port closure.
The American Sugar Coalition is pushing for restrictions on sugar imports from Mexico following concerns that some shipments may violate trade deal rules, Bloomberg reports.
A mostly lower day Tuesday in grain and livestock futures. Chuck Shelby, Risk Management Commodities, says uncertainty hit the market on many fronts.
Shipping accounts for roughly 90% of world trade and is responsible for nearly 3% of the world’s carbon dioxide emissions.
Grains are mostly lower on report positioning, while Brad Kooima, Kooima Kooima Varilek, says cattle make near term lows working in the Cattle on Feed Report and HPAI news.
Jerry Gulke discusses an unusual trend in the markets.
A mixed close in both grain and livestock futures. John Payne, Hedge Point Global Markets, says there was positioning end of month and quarter, plus heading into reports.
John Payne, Hedge Point Global Markets, says, “The intension for the farmers here isn’t always coming through with the USDA realities and I think they’re going to show corn acres closer to 92 to 93 million.”
After a sharp increase in the food price outlook last month, USDA trimmed its forecast this month.
Grains gear up for end of quarter and USDA reports, while cattle react to the bearish placements in Friday’s USDA data. Kent Beadle, Paradigm Futures, has more.
Oliver Sloup, Blue Line Futures, says the USDA Ag Outlook Forum set the benchmark showing a nearly 4 million acre increase in soybeans and 3.6 million acre decrease in corn. So that is already priced into the markets.
Markets closed mixed Friday, evidence of end quarter profit taking by the funds says Oliver Sloup, Blue Line Futures. He thinks they may continue that action ahead of reports and an uncertain growing season.
Costs are the main obstacle to increasing the use of sustainable aviation fuel (SAF), Exxon Mobil Senior Vice President Jack Willams said Friday.
A recap of the week’s price action with outlook for the next 5, 30 and 90 days.
Grains fall on weather, but what else is behind it? Does the reversal in cattle mean anything? And will gold & the DOW continue to make new highs & what does it mean for ag markets? Darin Newsom, Barchart, has more.
Grains end higher with livestock mostly lower. Brad Kooima, Kooima Kooima Varilek, says markets are seeing end of month and report squaring.
Grains end higher Thursday with soybeans making new highs for the move. Cattle close lower after record strong cash trade scoring a third reversal says Brad Kooima, Kooima Kooima Varilek.
The House Ag Committee held a hearing on Wednesday addressing concerns about China’s purchases of U.S. farmland, with both Democrats and Republicans expressing worry about potential threats to national security.
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.