Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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.
Soybeans higher on China export news and SA weather, corn tries to follow with a Mexican sale but anchored by wheat. Cattle try to recover after an ugly week. Mike Zuzulo, Global Commodity Analytics, has more.
AgDay TV Markets Now: Brian Grete, Pro Farmer, talks about the big rally in soybeans and meal and if prices will climb past $14 resistance, plus corn scores a key reversal.
Beans & meal up on SA weather, China export biz. Corn scores a key reversal but is it bottoming? Wheat is a reluctant follower. Cattle bounce off new lows. Hogs anticipate a cash low. Brian Grete, Pro Farmer, has more.
Soybeans rally on SA weather and China export hopes, pulling up corn. Wheat is a reluctant follower with weak demand. Cattle recover from new lows for the move, hogs follow. Kent Beadle, Paradigm Futures, has more.
On soybeans, Jerry Gulke says the 25 million bushel increase in carryout can easily be wiped out with the current weather issues potential cuts to South American production, plus increased export demand.
Chinese factories facing overcapacity in a challenging economic environment are attempting to address their problems by increasing exports.
As South America’s growing season progresses market participants will closely watch for potential changes in Brazil and Argentine production estimates.
Grains lean lower on WASDE hangover & eyeing SA weather, corn made a new low. Cattle 2-sided trying consolidating after fund selling & lower cash, hogs chop. Tomm Pfitzenmaier, Summit Commodity Brokerage, has more.
USDA raised yield, production and ending stocks for both corn and soybeans in the November WASDE leading to a bearish reaction in the markets.
AgDay TV Markets Now: Don Roose, U.S. Commodities, talks about how the grain markets reacted to the bearish USDA Reports and huge flash soybean sales.
Pro Farmer recaps today’s price action with fundamental and technical analysis.
Grains lower after a bearish WASDE Report, fading big soybean export sales but still respecting SA weather. Cattle see massive fund liquidation amid lower cash, hogs mixed. Don Roose, U.S. Commodities, has details.
USDA reports are bearish with higher yield, production and ending stocks. Corn takes out September lows. Funds slam cattle with lower cash. Brian Splitt, AgMarket.Net, has analysis.
Cattle see more chart-based selling awaiting cash, hogs 2-sided after strong exports. Grains lower with pre-report, with soybeans fading big export sales. Scott Varilek, Kooima Kooima Varilek, has more.
AgDay TV Markets Now: Bryan Doherty, Total Farm Marketing, discusses why milk futures plunged from mid-October and what the outlook is for the rest of 2023.
The U.S. exported 231.5 million lbs. of beef during September, the lowest monthly total since June 2020.
Let this sink in: One state in Brazil — Mato Grosso — produces the equivalent of Illinois and Iowa’s soybean production combined. Here’s a look at South America’s growing regions, crop calendar and production capacity.
Chinese importers bought around 10 cargoes of soybeans, or about 600,000 metric tons, for shipment from Gulf Coast and Pacific Northwest export terminals between December and March.
Brazil’s Petrobras has for the first time processed 100% soybean oil in an industrial refining unit, the state-run oil company said.
The shift to an El Niño weather pattern is creating dynamic market conditions. In particular, the U.S. soybean market will be extremely sensitive to threats to the Brazilian crop.
AgDay TV Markets Now: John Payne, Hedge Point Global Markets says despite a smaller U.S. cotton crop due to drought, the market has not been able to rally due to macroeconomic demand concerns.
SAF presents a promising biofuel opportunity for farmers and enjoys support from agricultural commodity groups, the Fuels America coalition, major airlines and USDA Secretary Tom Vilsack.
Chinese Premier Li Qiang pledged to expand market access and boost imports as part of efforts to stimulate economic growth and maintain openness in China. Key points from his speech and related developments include:
AgDay TV Markets Now: Vince Boddicker, Farmers Trading Company, says soybeans and corn may need a bigger SA weather issue to keep moving higher. Cattle have an ugly technical day so will funds keep selling?