Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Price action along with market outlook broken down into 5, 30 and 90 day segments.
USDA shocks the market with higher corn & soybean yield, production and carryout. SA numbers were not supportive either. Lower winter wheat acres and carryover slightly friendly. Jim McCormick, AgMarket.Net
Friday will be one of the busiest report days of the year for the grain markets with several major reports. What’s likely to move the market?
Jerry Gulke says a strong return to Marketing 101, last seen during the 1980s, may be on the horizon.
Cattle consolidate early awaiting more cash & despite higher beef, but does the market have enough wx premium? Hogs see profit taking. Grains mixed ahead of USDA data. Scott Varilek, Kooima Kooima Varilek, has more.
Cattle consolidate early awaiting more cash & despite higher beef, but does the market have enough wx premium? Hogs see profit taking. Grains mixed ahead of USDA data. Scott Varilek, Kooima Kooima Varilek, has more.
The International Grains Council (IGC) raised its 2023-24 global corn production forecast 7 MMT to 1.230 billion MT.
AgDay TV Markets Now: Rich Nelson, Allendale, looks at what the grain market is expecting in the USDA Reports, what could move the market and how much is already factored into prices.
Pay attention to the national corn yield, the number of planted corn acres and Brazil’s corn and soybean crops.
China, the top exporter to the U.S. since 2006, likely lost its position to Mexico in the past year.
Grains end mostly lower except soybeans on exports, Argentina estimates & ahead of USDA data. Are bearish reports already priced in? Cattle & hogs finish strong on wx, firmer cutouts. Rich Nelson, Allendale, has more.
Grains are mixed with positioning ahead of the reports and weak exports, soybeans are oversold and seeing corrective buying. Cattle up on higher cash ideas and wx. Chip Nellinger, Blue Reef Agri-Marketing has more.
Grains mixed, consolidating ahead of the USDA Reports and with weak exports, shipping issues and more moderate wx forecasts. Cattle and hogs see profit taking. Mike Zuzulo, Global Commodity Analytics, has more.
AgDay TV Markets Now: Alan Brugler, Brugler Marketing, says Conab’s Brazil soybean estimate disappoints the market, while corn and wheat close mixed positioning ahead of the WASDE.
Ethanol production averaged 1.062 million barrels per day (bpd) during the week ended Jan. 5, up 13,000 bpd from the previous week.
Soybeans fall on CONAB’s Brazil estimate and pre-WASDE. Corn and wheat end mixed on report positioning. Cattle and hogs mostly higher but with a lukewarm response to wx. Alan Brugler, Brugler Marketing, has details.
Despite the markets pricing in lower interest rates, Arlan Suderman expects inflation to rear its ugly head sometime in 2024.
The U.S. exported 607.5 million lbs. of pork during November, up 35.3 million lbs. (6.2%) from October and 30.0 million lbs. (5.2%) more than last year.
Grains off lows but can it rally pre-report, with headwinds like Brazil wx & slow demand? How much wx premium does the cattle market need? What’s the outlook for outside markets? Darin Newsom, Barchart, has answers.
No follow through in grains after higher day Tuesday, pre-WASDE. CONAB’s Brazil estimates disappoint. Cattle add wx premium w/higher cash ideas. Hogs consolidate. Mike Minor, Professional Ag Marketing, has more.
AgDay TV Markets Now: Brian Grete, Editor of Pro Farmer, says corrective buying drove the rebound in the grain markets plus funds selling took a pause before the WASDE.
The U.S. exported $16.09 billion of agricultural goods in November against imports of $15.99 billion, resulting in a surplus of $98.97 million.
Grains close higher on corrective buying and positioning headed into the WASDE. Cattle added wx premium with higher cash ideas, hogs up for a 4th day trying to confirm a season low. Brian Grete, Pro Farmer, has details.
Grains all higher midday with corn and soybeans oversold and seeing some corrective buying pre-WASDE. Cattle firm up with winter weather and hogs forming a season low. Kent Beadle, Paradigm Futures, has more.
Cattle up after disappointing Monday, with strong cash, winter wx supportive. Hogs advance on short covering. Soybeans make new lows, corn 2-sided after contract lows. Brad Kooima, Kooima Kooima Varilek, has more.
U.S. consumers’ outlook for inflation over the short run fell to the lowest level in nearly three years in December, the New York Federal Reserve said.
AgDay TV Markets Now: Randy Martinson, Martinson Ag, explains what caused the funds to push grains to new lows and where the next areas of technical support are on the charts.
The annual American Economic Association gathering of the nation’s top economists brought mixed sentiments.
Corn hits contract lows, new lows for the move in beans & wheat w/risk off fund selling on lower crude oil, U.S./Brazil wx. Live cattle consolidate despite strong cash. Randy Martinson, Martinson Ag, has more.
New lows in corn & soybeans on risk off funding selling following crude oil, plus rains in Brazil. Cattle off highs, despite strong cash & wx. Hogs extend gains. DuWayne Bosse, Bolt Marketing, has more.