Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Right now, the grain markets are focused on the haves and the have nots. That is those areas that have received rain and those who have not.
The market moves this week give volatility a whole new meaning, says Jerry Gulke, president of the Gulke Group.
AgDay TV Markets Now: Rich Nelson, Allendale, says funds take profits in row crops on Thursday on a better extended weather forecast. What yield is the market trading?
Corn & beans lower on profit taking & improved weather. Wheat mixed awaiting fresh war news. Live cattle consolidate ahead of cash. Hogs mostly lower so is the seasonal rally over? Rich Nelson, Allendale has more.
November soybeans fell 22 cents to $13.98, ending the session below the 10-day moving average and near the session low.
Politico reports that House Ag Committee member Greg Casar is introducing two new bills, targeting large agricultural corporations that have significant influence on the farm bill reauthorization.
Corn, beans, cotton lower on profit taking, weather, stronger dollar. Wheat is mixed awaiting fresh war news. Cattle trying to rebound with lower corn. Shawn Hackett, Hackett Financial Advisors has details.
Grain markets go through three stages: greed, hope and fear. With two weeks of lower prices, the markets could be headed to the fear stage, says Jerry Gulke, president of the Gulke Group.
The annual Acreage and quarterly Grain Stocks reports are historically market movers. Read our pre-report coverage and analysis below.
The price rally that started in the fall of 2020 definitely attracted more corn acres in 2021. That was confirmed in USDA’s June Acreage report.
A big round of USDA reports this week ignited the grain markets.
The grain markets changed trend this week, thanks to a big round of USDA reports.
Stable crop conditions and some unexpected rains made grain prices drift lower this week.
A questionable weather forecast and a flash sale of soybeans to China helped commodities close higher this week, with the exception of November soybean prices.
Old crop beans hit contract highs on China export biz, expanding drought. Corn & wheat try to follow. Cattle 2-sided, while hogs see seasonal strength. Mike Zuzulo, Global Commodity Analytics has more.
AgDay TV Markets Now: Jeff Hoogendoorn, Professional Ag Marketing, talks about the impressive rally in hogs, if it is nearly done seasonally and if producers should be hedging.
The Panama Canal Authority announced a reduction in the average daily number of ships allowed to navigate the canal, lowering the figure from 35-36 to 32 starting July 30.
The Senate on Tuesday easily cleared an amendment to the National Defense Authorization Act barring investors from China, Russia, Iran, and North Korea from purchasing U.S. farmland.
Corn and soybean prices sank lower this week. Why? Several factors played in, says Jerry Gulke, president of the Gulke Group.
Contrary to last week, corn, soybean and wheat prices all found their footings and closed higher.
“We’re significantly off the highs of the year, and it may be turning more negative depending upon what the report says next week,” says Jerry Gulke, president of the Gulke Group.
Grain prices saw improvement this week. December corn prices were up 10.25¢, for the week ending Sept. 17.
“In spite of some global economic headwinds and an open harvest week, the grain markets seem unphased,” says Jerry Gulke, president of the Gulke Group.
The markets reacted negatively to the Oct. 12 USDA reports. But prices regained some of their losses.
October is ending on a high note for the corn and soybean markets.
The grain markets were lower this week, ahead of next week’s USDA reports.
The grain markets reacted to this month’s Crop Production and World Agricultural Supply and Demand Estimates reports completely differently than the last several months.
“The wheat market didn’t take the WASDE report well,” says Jerry Gulke of the Gulke Group. “Of course, it has started this downtrend before the crop report—it had dropped a dollar in about three or four days.”
As December comes to a close, the grain markets are offering a few gifts. March corn prices were up 3.25¢ and new-crop December corn prices were down 4.5¢, for the week ending Dec. 17.
Increasing demand and economic recovery create stable outlook.