Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Funds sell soybeans on better Brazil wx, but how big is the crop? Wheat sees short covering w/a lower $, corn follows. Cattle consolidate on lower beef, hogs bounce off contract lows. Arlan Suderman, StoneX has more.
Cattle consolidating after hitting chart resistance, with lower boxed beef prices. Hogs and corn higher on short covering, while soybeans slide back lower on SA weather. Brad Kooima, Kooima Kooima Varilek, has more.
Missouri Gov. Mike Parson (R) issued an executive order banning businesses or individuals from nations designated as adversaries from purchasing farmland near military installations.
Row crops bounce off support after another contract low in corn, while wheat sees spec selling. Cattle consolidate, with more contact lows in hogs. Chuck Shelby, Risk Management Commodities, has analysis.
Soybeans see light corrective buying, while corn hits new contract lows and tries to follow. Cattle see profit taking with lower boxed beef, hogs make more contract lows. Mark Schultz, Northstar Commodity, has more.
Grains see follow through fund selling with poor technicals and improved SA weather. Cattle lower on profit taking and lower boxed beef, with short covering in hogs. Tomm Pfitzenmaier, Summit Commodity, has details.
Denmark’s Maersk and German rival Hapag-Lloyd said on Tuesday their container ships would continue to avoid the Red Sea route that gives access to the Suez Canal following a weekend attack on one of Maersk’s vessels.
AgDay TV Markets Now: Bryan Doherty of Total Farm Marketing pinpoints what caused the selloff in grains to start 2024 and how much more pressure he expects.
Corn-for-ethanol use totaled 455 million bu. during November, according to USDA, topping expectations of 451 million bushels.
Contract lows in corn, 6 1/2 month lows in soybeans with risk off technical selling, & improved SA wx. Hog & milk futures also fall, while cattle chased higher cash. Bryan Doherty, Total Farm Marketing has more.
Grains sink, contract lows in corn on risk off fund selling on Red Sea shipping concerns, Brazil wx, & farmer selling. Hogs slide to new lows, with cattle following cash higher. Kent Beadle, Paradigm Futures, has more.
2023 was a lower year for all the grains as the market went through a commodity reset similar to 2013. What’s ahead for 2024?
Cattle rally with cash up to $173, few $174 last week and adding weather premium. Hogs mixed. Grains fall with improved SA weather, beans take out Oct. lows. Scott Varilek, Kooima Kooima Varilek, has more.
AgDay TV Markets Now: Brad Kooima, Kooima Kooima Varilek, recaps a record year in the cattle market and discusses if new highs are possible in 2024.
AgDay TV Markets Now: DuWayne Bosse, Bolt Marketing, recaps grain market action in 2023 and looks ahead at what he expects in 2024.
AgDay TV Markets Now: Kent Beadle, Paradigm Futures, discusses what the grain market will focus on to start 2024.
USDA’s final 2023-24 production data, along with global production updates, due out Jan. 12 will provide direction for market participants.
2023 was a lower year for nearly every major ag commodity market except cattle. Randy Martinson, Martinson Ag, recaps the year and looks ahead at what may move the markets to start 2024.
March SRW futures rallied 8 1/2 cents to $6.31 1/2 but closed off session highs. March HRW futures rallied 8 3/4 cents to $6.43 3/4.
Ag markets mostly lower with risk off in markets like crude oil. Wheat adds Black Sea risk premium. Cattle also fell with lower CH beef, despite So. cash up $1. Hogs lower. Kent Beadle, Paradigm Futures, has more.
AgDay TV Markets Now: John Payne, Hedge Point Global Markets, says corn and wheat see profit taking. Grain markets will need a supply or demand shock to get a significant rally, even soybeans.
U.S. natural gas futures experienced a significant surge of over 4%...reaching above $2.5/MMBtu, driven by seasonal demand and increased exports.
Wednesday’s soybean market analysis: Soybean futures showed relative strength to the flailing wheat and corn markets, following through on Tuesday’s gains.
Corn and wheat see profit taking. Soybeans rallied late with short covering in bean oil. Live cattle consolidated. Hogs saw follow through selling except Dec. John Payne, Hedge Point Global Markets, has details.
AgDay TV Markets Now: Scott Varilek, Kooima Kooima Varilek, says cattle fade bearish COF, while grains up on short covering and end of year positioning plus underlying demand.
Cattle open lower but off lows. How bearish was the COF and will weather, higher cash trump it? Hogs down w/slightly larger herd. Grains open higher then turn mixed. Brad Kooima, Kooima Kooima Varilek, has more.
Cattle faded a bearish COF report twith strong cash and weather both supportive. Hogs reacted to a bearish USDA report. Grains up on EOY positioning, SA wx and demand. Scott Varilek, Kooima Kooima Varilek, has more.
AgDay TV Markets Now: Don Roose, U.S. Commodities says markets could be volatile last week of 2023 depending on Brazil weather.
How much is the drought cutting Brazil’s crop and will soybean and corn prices take note if forecasted rains don’t confirm?
Grains mostly higher Friday but down for the week on technical selling, with more favorable wx in Brazil. USDA reports friendly for hogs, neutral to slightly bearish for cattle. Don Roose, U.S. Commodities has more.