Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Soybeans fall on China GDP news, while corn and wheat struggle to hold early gains. Why? Cattle consolidate awaiting cash, while hogs struggle with processing hiccpus. Kent Beadle, Paradigm Futures, has details.
Risk off outside markets & China GDP data pressures soybeans, corn is following wheat with short covering. Cattle see profit taking after the chart breakout. Hogs consolidate. Randy Martinson, Martinson Ag, has more.
In recent months, USDA Secretary Tom Vilsack has suggested Congress should use the Commodity Credit Corp. (CCC), Charter Act to find a “creative way” to raise reference prices in the next farm bill.
AgDay TV Markets Now: Ted Seifried, Zaner Ag Hedge, says corn falls on report hangover, bearish outside markets, while soybeans bounce with record crush but may not hold report day lows.
Besides the hot and dry conditions that damaged Brazil’s soybean crop through December, excess rainfall in certain areas of these same states is disrupting harvesting.
Corn falls on report hangover, lower wheat, bearish outside markets. Soybeans pop on a record crush, lower Brazil crop. Cattle see a chart breakout on wx, higher beef, cash ideas. Ted Seifried, Zaner Ag Hedge, has more.
Corn sees report hangover with lower wheat, soybeans pop with lower Brazil crop, record crush. Cattle try to hold gains watching wx, cash, while hogs look tired. Vince Boddicker, Farmers Trading Company, has more.
Cattle holding gains on weather, higher beef and despite weaker So, cash. Hogs fall as slaughter backs up. Corn & soybeans try to hold Friday’s lows, but are the lows in? Brad Kooima, Kooima Kooima Varilek, has more.
Leading ag economists expect inflation to return in 2024 and that will not only have an impact on the interest rate environment, but it could bring the fund or speculative community back in to buy commodities.
USDA’s January reports were negative for row crops with higher corn and soybean yields and production. Jim McCormick with AgMarket.Net is hopeful the markets have the most bearish news now factored into prices.
Industry groups like the American Farm Bureau Federation are urging House and Senate Ag panels to focus on the farm bill once government-wide spending disputes are hopefully resolved.
AgDay TV Markets Now: John Heinberg, Total Farm Marketing, discusses how low corn needs to go to price in record yield and production. Does the soybean market have the bearish news already factored in?
March corn hit a new contract low of $4.41 on Friday. Will corn see more pressure trying to price in extra bushels? March soybeans also hit a low of $12.06. Will $12 support hold without a drop in Brazil production?
Corn & soybeans tank on higher yields & production, with wheat following despite lower seedings & ending stocks. Live cattle followed lower cash, hogs consolidate. John Heinberg, Total Farm Marketing, has details.
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.