Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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.
Grains higher with risk on outside markets, wx, ideas of a bullish report for beans, talk of China biz. Cattle supported on breaks, with hogs pushed by higher & cutouts. Tomm Pfitzenmaier, Summit Commodity Brokerage.
Cattle fall on higher corn & lower beef, but will cash continue to be resilient? Hogs higher with the cash index but may have topped. Grains higher on weather, report squaring. Brad Kooima, Kooima Kooima Varilek.
Chicken’s popularity has increased greatly due to its use in home cooking, processed foods and restaurants. The beef industry has struggled to rebrand and innovate.
AgDay TV Markets Now: Shawn Hackett, Hackett Financial Advisors says corn, beans and products see profit taking Monday ahead of the WASDE, watching extended weather. But will USDA actually cut yield on Wednesday?
Trade started the week off strong with steady gains across the board as forecasts turn hot and dry next week.
Corn, soybeans and products end higher on profit taking, report positioning, drier extended weather. Wheat mixed on spreads. Cattle bounce, while cotton falls. Shawn Hackett, Hackett Financial Advisors.
Grains mostly higher led by soybeans on drier extended weather, corrective buying and pre-report positioning. Will USDA lower yield this soon? Cattle and hogs trade mixed. Randy Martinson, Martinson Ag has more.
Grains higher on disappointing rains corrective buying, strong soy products, which spilled over into wheat. Cattle see profit taking w/lower boxed beef. While the dollar was down last week. Darin Newsom, Barchart.
Darren Frye of Water Street Solutions says grains slide on favorable weather and the anticipation of the July WASDE report and the possibility of USDA cutting yield.
Despite long-standing trends showing an increase in meat consumption as countries’ incomes rise, a shift seems to be occurring.
We share fresh outlook for the corn market broken down into the next 5, 30 and 90 day segments.
Grains lower on favorable weather but also awaiting supply direction from the WASDE. Cotton closes higher but is still rangebound. Cattle post a strong recovery with lower corn. Darren Frye, Water Street Solutions.
Average cattle and hog finishing margins are both positive for the third consecutive week, according to calculations in the Sterling Marketing Profit Tracker.
Cattle and hog finishing margins are both positive for the fourth consecutive week despite the fact cash prices for cattle and hogs were slightly lower last week.
Closeouts on cattle and hogs marketed last week remain modestly profitable for the sixth consecutive week, according to calculations by Sterling Marketing.
On a percentage basis, beef packer margins declined significantly last week. It’s all relative, of course, since the starting point from the previous week was stunning.