Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
AgDay TV Markets Now: Darren Frye, Water Street Solutions, says the grains were mostly lower on Friday on profit taking but close higher for the week and he thinks the markets can build on that.
Refineries worldwide are facing challenges in meeting the rising demand for diesel, exacerbated by disruptions in global oil flows caused by OPEC+ output reductions and the conflict in Ukraine.
Corn and soybeans, even cattle see profit taking Friday. SRW wheat up on China biz. Crude oil and cotton rally on Middle East conflict. Darren Frye, Water Street Solutions, has the recap.
Corn and soybeans open higher then hit resistance, see profit taking and farmer selling. Wheat trying to hold gains with China biz. Cattle consolidate despite higher cash. DuWayne Bosse, Bolt Marketing, has more.
Grains start higher but row crops hit chart resistance and retrace. Wheat supported by China biz, oil up on Middle East conflict. Cattle start higher, then see profit taking. Darin Newsom, Barchart, has more.
AgDay TV Markets Now: Mike Zuzulo, Global Commodity Analytics, talks about why grains soared after the USDA Reports and what it will take to continue that momentum.
The October WASDE was slightly bullish for soybeans and corn, bearish for wheat. However, the markets rallied after the WASDE led by soybeans.
Soybeans up as U.S. stocks unchanged, global stocks cut. Corn carryover also sees a deeper drop. Wheat follows despite bearish report. Cattle price in steady to higher cash. Mike Zuzulo, Global Commodity Analytics.
November soybeans rose 37 1/2 cents to $12.90, the highest close since Sept. 28, after reaching a near four-month low overnight.
The October WASDE was friendly for soybeans with ending stocks unchanged and global stocks cut 3.6 mmt. Corn ending stocks were lowered 110 mb. Wheat numbers were bearish. Jim McCormick of AgMarket.Net has more.
Navigator CO2 Ventures has taken the step of voluntarily withdrawing its application for a section of its carbon capture pipeline in Illinois, citing the need to reevaluate the $3.5 billion project’s route.
National Milk Producers Federation (NMPF) officials expressed hope for including additional milk pricing provisions in the upcoming farm bill.
Cattle extend gains from Wednesday with better cash news, hogs lower with bigger supplies and fund selling. Grains mixed pre-report, soybeans bounce off w/export biz. Scott Varilek, Kooima Kooima Varilek has more.
AgDay TV Markets Now: John Payne, Hedge Point Global Markets, previews the October WASDE says yield is key.
The International Energy Agency (IEA) forecasts a slowdown in the growth of global natural gas demand through 2026.
AgDay TV Markets Now: Jim McCormick, AgMarket.Net, says grains end mixed on report positioning, profit taking and harvest pressure.
Beans make new lows then see technical bounce and report positioning. Technical selling in wheat pulls down corn as well as harvest pressure. Cattle consolidate, funds sell hogs. Tomm Pfitzenmaier, Summit Commodity.
Fertilizer manufacturers experienced a significant uptick in their stock prices following a surprise attack by Hamas on Israel, which has raised concerns about the potential impact on global fertilizer supplies.
Cattle and hogs recover with a bounce in the stock market and lower corn. Soybeans bounce off new lows, but corn and wheat are lower. Brad Kooima, Kooima Kooima Varilek says details.
AgDay TV Markets Now: Mark Schultz, Northstar Commodity, talks about the long-term impact of the Israeli conflict on the ag markets.
The U.S. and U.K. are preparing to commence trade talks under the banner of the U.S./U.K. Trade Partnership Forum (TPF).
Fundamental and technical analysis of today’s wheat market action.
Cattle and hogs lower on Middle East conflict, while wheat sees short covering. Corn and soybeans position ahead of the WASDE, also see hedge pressure. Mark Schultz, Northstar Commodity, has more.
Markets add geopolitical premium with Israeli conflict in energies and wheat, but its price negative for meats. Corn and beans also see harvest pressure and report positioning. Kent Beadle, Paradigm Futures, has more.
Ag markets see early risk off selling with the conflict in Israel, harvest pressure and report positioning in row crops. Wheat holds gains on talk of China export buys. Randy Martinson, Martinson Ag has more.
Should farmers store and try to capture the carry and more importantly will that carry be there in the future when it’s time for them to deliver? Jerry Gulke, president of the Gulke Group, is skeptical.
The U.S. exported 526.7 million lbs. of pork and 259.5 million lbs. of beef during August.
AgDay TV Markets Now: Bryan Doherty of Total Farm Marketing says grains end lower on Friday on profit taking but corn closes higher for the week. So can the market build on that and get Dec above $5?
Corn market outlook broken down into the next 5, 30 and 90 day segments.
Grains end lower on profit taking, but corn & wheat have higher week. Cattle recover with the DOW but are lower for the week, hogs firm while milk searches for a bottom. Bryan Doherty, Total Farm Marketing, has more.