Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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.
Officials at the publicly owned port cited a significant increase in grain shipments across the board, but highlighted soybeans.
AgDay TV Markets Now: Garrett Toay, AgTraderTalk says grains take a pause from the rally but will continue to hold risk premium over war and weather concerns.
The hog and pork complex is sustaining its summer rally, with nearby August futures adding another $1.55 to $101.65 Tuesday.
Grains close mostly lower with profit taking but eye on weather and Black Sea news. Cattle consolidate in a healthy correction, hogs pushed by strong cash and cutouts. Garrett Toay, AgTraderTalk has details.
2022 started off with a bang in the corn and soybean markets.
Home to 21% of the world’s population, China possesses only 7% of productive farmland. As such, shifts in the composition have effects that ripple across the globe.
Compute 12-month technical and fundamental price targets given the latest market information. Get busy selling when we’re in the top 20% of those ranges.
You must know your costs and be honest with yourself about what they are and how you need to manage them.
Ukraine is a key player in global agriculture, and how these conflicts play out will have international impacts.
Farmers need to learn to balance the risks of their grain marketing decisions. For example, if you sell grain early, replace those cash sales with call options.
We asked eight analysts to provide their best estimates on price direction and market strategies you can put to use in 2022.
The grain markets posted another round of strong prices. Corn, soybeans and wheat prices were all up 30¢ or more. Could 2022 repeat the appreciating prices posted in 2021?
Grains see profit taking & may have enough risk premium for now. Cattle continue to correct technically despite bullish fundamentals. Hogs pushed by cash, product. Jeff Hoogendoorn, Professional Ag Marketing has more.
December SRW wheat surged 59 3/4 to $7.77 1/2 and closed at a five-month high close. December HRW wheat gained 58 1/2 cents to $9.25 1/4 and hit an eight-month high.
The grain markets continued to show strength this week. But how will continued global uncertainty, a long weekend and USDA’s initial 2022 estimates impact prices?