Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
AgDay TV Markets Now: Brian Grete with Pro Farmer discusses why grains faded news of an end to the Black Sea Grain deal but yet soybeans held gains.
November soybean futures continue to climb higher but were unable to maintain last night’s gap higher caused by increased geopolitical risk around the Black Sea.
Corn, wheat fade Russia ending the Black Sea Grain deal. Meal, weather & China export talk support soybeans. Cattle firm w/higher cash ideas, hogs supported by higher cash index. Kent Beadle, Paradigm Futures.
Grains fade after higher open on weather, China soybean export talk and the end of the Black Sea Grain deal. Cattle firm but fail to take out last week’s highs? Kevin Duling, KD Investors.
Exports have generally suffered across the world, except in regions dominated by the Commonwealth of Independent States (CIS) led by Russia, and in China.
AgDay TV Markets Now: Jim McCormick of AgMarket.Net discusses what the grain market is signaling with higher weekly closes after the bearish WASDE.
Following the bearish report on Wednesday, grain markets closed higher for the week, which, according to Jerry Gulke, signals the market might believe there is more downside to yield.
After the June report, traders prepared for a “new” trading environment with “burdensome” corn supplies and “pipeline” soybean supplies. Then came the anticlimactic July report.
Grains higher for the week shaking off the bearish WASDE. Focus on weather, yield, Black Sea Grain Deal and falling dollar. Live cattle rebound into new contract highs, hogs consolidate. Jim McCormick, AgMarket.Net.
Friday’s technically bullish weekly high closes in winter wheat futures suggest follow-through chart-based buying next week.
Soybeans see profit taking with lower bean oil, no China biz. Corn & wheat up weather & uncertainty about yield, Black Sea Grain Deal. Cattle see technical bounce, while hogs consolidate. Ted Seifried, Zaner Ag Hedge.
Grains are mostly higher on follow through fund buying, with weather and uncertainty on the Black Sea Grain Deal supportive. Do yields need to come down more? Nick Tsiolis, Farmers Keeper.
Soybeans were able to regain Wednesday’s losses following USDA’s bearish supply and demand data. Traders are seemingly shaking off the data and turning their focus toward late-July and August weather.
Grains see a corrective bounce with help from outside markets like the lower dollar. Cattle confirm the reversal with follow through selling. Hogs bounce on higher cash. DuWayne Bosse, Bolt Marketing has more.
USDA Secretary Tom Vilsack said tackling climate change can boost farm revenue through the adoption of climate-smart practices.
AgDay TV Markets Now: Naomi Blohm, Total Farm Marketing explains why grains bounced a day after the bearish USDA Report.
Grains higher on a corrective bounce with a lower dollar, still digesting the report, watching weather & debating yield. Cattle continue to consolidate. Hogs bounce with strong cash. Naomi Blohm, Total Farm Marketing.
Grains higher on corrective buying after the selloff post-WASDE. Hogs bounce with China hopes, but cattle are seeing follow-through selling, so was Wednesday a blow off top? Scott Varilek of Kooima Kooima Varilek.
UN Secretary-General Guterres has proposed to Russian President Putin that he extend the Black Sea grain deal in exchange for connecting a subsidiary of Russia’s agricultural bank. . .
The July WASDE report was bearish for grains. The biggest disappointment for the bulls was USDA’s ending stocks figure for soybeans.
AgDay TV Markets Now: Chip Nellinger with Blue Reef Agri-Marketing discusses if soybeans have topped and how low corn could go after the USDA Report data.
The biggest surprises included a 4-bu. reduction in corn yield and soybean ending stocks came in at 300 million bushels, which is 100 million bushels higher than trade estimates.
Three senators introduced the Voluntary Groundwater Conservation Act, aiming to provide family farmers and ranchers with more flexibility to protect groundwater resources while maintaining their agricultural lands.
Grains lower with a bearish USDA report, especially on soybean ending stocks. Have soybeans topped and how low does corn go? Livestock also reverse lower in bearish action. Chip Nellinger, Blue Reef Agri-Marketing.
Grains sell off with bulls disappointed in a 300 mb ending stocks figure for soybeans, lower corn yield offset acreage, while U.S. wheat numbers were slightly bearish. Brian Splitt with AgMarket.Net.
Grains mostly higher with report positioning & spillover from friendly CPI data. That’s supporting hogs and live cattle are making new highs. Allison Thompson, The Money Farm, has details and a preview of the WASDE.
AgDay TV Markets Now: Arlan Suderman with StoneX discusses what changes he expects in the WASDE and why USDA will lower yield.
Renewed wholesale strength seemed to trigger a fresh surge in hog futures, with today’s big gains projecting sustained cash market strength over the short run.
Grains higher in a risk on day in outside markets, with weather & pre-report positioning. Cattle make contract highs in deferred with strong cash, hogs rally on higher cash, demand. Arlan Suderman, StoneX.
Historically, USDA makes very few changes this early in the season, with the most recent exception occurring in 2012.