Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Data from the Chinese Ministry of Agriculture and Rural Affairs revealed that China’s sow herd has decreased to 42.1 million.
AgDay TV Markets Now: Tommy Grisafi, Advance Trading, says soy complex adds Brazil weather premium. Corn reluctant follower as wheat is anchor making new lows.
POET, a biofuel maker, expressed concerns that the Biden administration’s decision on tax credits for sustainable aviation fuel (SAF) could lead them to withdraw from the SAF market.
Soybeans up adding Brazil weather premium, corn is reluctant follower with wheat making new lows on poor demand. Cattle disappoint after the COF Report, with crude oil surging. Tommy Grisafi, Advance Trading, has more.
Soybeans up on corrective buying, disappointing Brazil rains. Wheat lower on poor demand, dragging down corn. Funds use early strength to liquidate in both cattle and hogs. Kent Beadle, Paradigm Futures, has more.
Cattle turn mixed after a slightly friendly COF report. Can cattle recover? Hogs see more technical buying. Soybeans up on disappointing Brazil rains, corn is 2-sided. Brad Kooima, Kooima Kooima Varilek, has more.
Legal challenges and disputes continue related to EPA and Army Corps of Engineers’ regulation of wetlands and waters in the United States.
The focus of the soybean market continues to be South American weather and crop expectations. Jerry Gulke says whether or not forecasted rains occur will set the direction for the market into next week and beyond.
AgDay TV Markets Now: Darren Frye, Water Street Solutions, says soybeans and meal see profit taking with Brazil rain chances and drag corn down as well.
Soybeans see profit taking on Brazil rain chances, pull down corn and wheat. Cattle rally into a slightly friendly COF report. Crude oil rebounds. Darren Frye, Water Street Solutions, has more.
On the positive side for corn, the U.S. corn harvest is winding down rapidly, which means farmer selling at the local elevators and commercial hedge pressure will subside.
Soybeans pull grains lower with rain chances for Brazil and technical selling. Cattle see short covering pre-COF and after the Tyson cyberattack. Hogs firm. Vince Boddicker, Farmers Trading Company, has details.
Risk off day as cattle continue defensive ahead of the CoF Report, hogs consolidate. Soybeans lower with Brazil rain chances and corn follows digesting extra bushels. Scott Varilek, Kooima Kooima Varilek has more.
The International Grains Council (IGC) raised its forecast for 2023-24 global grain production by 3 MMT to 2.295 billion MT.
AgDay TV Markets Now: Jim McCormick, AgMarket.Net, explains why corn rallied despite the lower day in soybeans and the plunge in cattle.
The soy complex slid on Brazil rain chances and profit taking, while corn bounced. Cattle plunged on lower cash, pre-COF caution. Demand fears tanked crude oil. Jim McCormick, AgMarket.Net, has more.
Members of the National Oilseed Processors Association (NOPA) crush 189.8 million bu. of soybeans in October.
AgDay TV Markets Now: John Heinberg, Total Farm Marketing, says grains slide on profit taking after hitting chart resistance, Brazil rain chances and outside markets.
Grains mostly lower on profit taking, rain chances in Brazil and spillover from outside markets. Cattle higher with help from the equity rally. Hogs correct. John Heinberg, Total Farm Marketing, has more.
Grains lower on profit taking after hitting chart resistance, plus bearish outside markets like crude oil and the dollar. Cattle up for the third day but can it last into the COF? Darin Newsom, Barchart, has details.
Grains mostly lower on profit taking, rain chances in Brazil and bearish outside markets. Cattle and hogs trade 2-sided with cattle positioning ahead of the COF report. Randy Martinson, Martinson Ag, has more.
Soybeans complex higher on Brazil weather, outside markets and CPI data, corn followed. Cattle rally with equities, with profit taking in hogs. Jeff Hoogendoorn, Professional Ag Marketing, has details.
AgDay TV Markets Now: Jeff Hoogendoorn, Professional Ag Marketing, discusses how the CPI data helped soybeans, corn and cattle all rally on Tuesday.
According to a recent report from CoBank, an abundance of corn and soybeans has resulted in cheaper basis and bigger carries in futures markets.
Witnesses at the hearing acknowledged the benefits of new technologies, including increased crop yields and reduced waste, but stressed the importance of providing clear benefits to growers.
Soybeans 2-sided with mixed products. Corn disappoints after the reversal, wheat mixed. Cattle correct with equities; hogs see profit taking. Chip Nellinger, Blue Reef Agri-Marketing has more.
Cattle oversold, following higher equities but cautious ahead of COF. Hogs see profit taking and so do soybeans. Corn higher with wheat and Mexican export biz. Brad Kooima, Kooima Kooima Varilek, has more.
Recent WASDE reports had assumed another record Brazilian soybean crop and Argentina returning to normal, but the El Niño weather pattern might have something to say about that.
China bought around 3 MMT of soybeans or 110 million bushels from the U.S. last week, a volume that reportedly surprised the market. They added another 7.5 million bushels on Monday.
AgDay TV Markets Now: Tomm Pfitzenmaier, Summit Commodity Brokerage, says South American weather is the key to the corn and soybean markets with the WASDE Report out of the way.