Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Soybeans see more selling on WASDE hangover, corn rallies with wheat after holding support and has wheat finally bottomed? Cattle consolidate with bearish CPI data. Allison Thompson, The Money Farm, has more.
AgDay TV Markets Now: Matt Bennett, AgMarket.Net, talks about where prices are headed for corn and soybeans after the bulls were disappointed with the September WASDE.
Environmental organizations have taken legal action by filing a lawsuit in the 9th Circuit Court of Appeals in San Francisco, aiming to compel EPA to increase its oversight of large livestock feeding operations.
Corn and soybeans ended lower after the WASDE disappointed the bulls. Wheat ended higher with lower global stocks. Cattle hit new highs and then faded. Matt Bennett, AgMarket.Net has details.
Despite lower yields, the September WASDE was disappointing for the bulls. Ted Seifried, Zaner Ag Hedge, breaks it down and talks about what it means for prices.
Cattle hitting new contract highs again on bullish cash ideas, tight supplies. Hogs test resistance. Grains lower pre-WASDE, with disappointment about crop ratings. Brad Kooima, Kooima Kooima Varilek has more.
The trade is expected lower yields in the September WASDE after the continuation of hot and dry weather in the last month.
The 2023-24 sorghum season presents promising export opportunities, likely resulting in improved sorghum premiums over corn.
AgDay TV Markets Now: Shawn Hackett, Hackett Financial Advisors discusses the WASDE and what yield numbers are already baked into the market, plus the reason wheat is at contract lows.
Row crops up on the yield cuts expected in the WASDE, while wheat hits contract lows. Feeders make all-time highs, live cattle try to follow. Is the dollar topping? Shawn Hackett, Hackett Financial Advisors has more.
November soybeans started the week off strong, rallying 6 cents to $13.69. December soybean meal closed $3.50 higher at $404.90. December soyoil ended the day unchanged at 60.50 cents.
Grains mixed on report squaring with lower yield ideas, SRW wheat makes new contract lows. Feeders hit all-time highs and pull fed futures, hogs bounce off trendline support. Kent Beadle, Paradigm Futures, has more.
Row crops up on lower yield ideas in WASDE, wheat hits contract lows on rains in HRW areas. Cattle extend gains after a higher week last week, short covering in hogs. Randy Martinson, Martinson Ag has more.
AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing previews the September WASDE, including how much USDA might cut corn and soybean yields.
We recap this week’s price action and share our outlook broken down into 5, 30 and 90 day segments.
Farm debt continued to rise, particularly non-real estate loans, with outstanding agricultural loan balances at commercial banks increasing by about 5%, according to an ag finance update from the Kansas City Fed.
China has asked some fertilizer producers to suspend urea exports after domestic prices jumped, Bloomberg reported.
AgDay TV Markets Now: John Payne, Hedge Point Global Markets, provides his outlook for the cotton market.
The U.S. pork industry is navigating regulatory changes in California, with uncertainties surrounding compliance costs, supply and pricing.
President Biden’s administration likely will delay until December a decision on whether to make it easier for sustainable aviation fuel (SAF) made from corn-based ethanol to qualify for subsidies under the climate law.
AgDay TV Markets Now: The U.S. Dollar Index hits 6-month highs. Darren Frye, Water Street Solutions, talks about what this means for ag commodity markets.
U.S. farm groups and farm state lawmakers want higher reference prices in the upcoming farm bill. However, an environmental activist group, the Environmental Working Group (EWG), has raised concerns.
The trend of lower net farm income farmers are seeing for 2023 looks like it could continue into next season.
AgDay TV Markets Now: DuWayne Bosse, Bolt Marketing, discusses what fundamentals could push November soybeans back above $14 and December corn above $5.
Companies like Nestle and Gucci are reducing purchases, and forest protection projects are showing unmet emissions-saving promises.
AgDay TV Markets Now: Chuck Shelby, Risk Management Commodities, says grains end lower for the week awaiting confirmation of lower yields as farmers face decision of whether to store or sell off the combine.
Corn and Soybean Markets Lower for the Week Awaiting Confirmation of Lower Yields in September WASDE
Jerry Gulke thinks the corn and soybean crops are getting smaller, and there’s a good chance for a bullish supply shock in the September WASDE report.
Grains Down for the Week as Funds Sell Pre-Holiday: Cattle Down with Disappointing Cash, Hogs Bounce
Row crops lower for the week on pre-holiday profit taking, weather. Wheat hits contract lows. Cattle see fund selling on cash disappointment, hogs bounce. Chuck Shelby, Risk Management Commodities, has more.
Grains mostly higher on corrective buying, soybean export biz but watching weather, war news. Cattle lower on disappointing cash, hogs bounce with higher cutouts. Vince Boddicker, Farmers Trading Company, has details.
Grains are oversold and bounce on corrective buying. Cattle consolidate with steady cash in the south, lower in the north and hogs also set back with the lower index. Scott Varilek, Kooima Kooima Varilek has more.