Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Corn beans mixed w/bull spreading, WASDE positioning, exports & weather in play. Short covering in wheat w/global supply concerns. Did cattle top w/the key reversals? Hogs consolidating. Rich Nelson, Allendale.
July SRW futures fell 11 cents to $6.16 3/4, ending the day near the session low.
Cattle open higher then fade. Is the top in after yesterday’s key reversals & record cash? Hogs consolidating. Corn lower on better forecast, while soybeans see bull spreading. Scott Varilek, Kooima Kooima Varilek.
AgDay TV Markets Now: Jeff Hoogendoorn Says Hog Market Recovery May be Capped by Prop 12 Uncertainty
AgDay TV Markets Now: Jeff Hoogendoorn, Professional Ag Marketing says hog market recovery rally may be capped by Prop 12 uncertainty.
This proposal has been supported by more than 100 lawmakers and the dairy industry, who argue that children are more likely to drink milk if it has a better taste.
Markets mostly lower on commodity wide selling. Profit taking in hogs and cattle, despite record highs in cattle futures and No. cash. Grains also traded weather. Jeff Hoogendoorn, Professional Ag Marketing.
Corn & wheat see pressure on weather, report positioning, soybeans supported by meal and China hopes. Cattle and hogs see profit taking, even after record cash in NE at $190/$300. Allison Thompson, The Money Farm.
Grains mixed on weather, pre-WASDE squaring & talks resuming on Black Sea Grain deal. Live cattle make all-time highs again with cash up to $300. Hogs consolidate. Mark Schultz, Northstar Commodity.
Grains mixed on weather, pre-WASDE squaring & talks resuming on Black Sea Grain deal. Live cattle make all-time highs again with cash up to $300. Hogs consolidate. Mark Schultz, Northstar Commodity.
Grains higher except wheat trading weather, crop ratings, WASDE. Live cattle hit all-time highs chasing record cash, hogs continue to recover but how much upside is left? Brian Grete, Pro Farmer.
AgDay TV Markets Now: Brian Grete with Pro Farmer talks about what’s fueled the recent recovery in the hog market and how long it will last.
EPA will abandon a proposal to include the electric vehicle industry in the U.S. biofuel blending program, three sources familiar with the matter told Reuters.
Short covering and technical buying from the speculators were featured today after the corn market got a bullish surprise with Monday afternoon’s weekly USDA crop progress reports.
Grains lose ground as forecasted rain trumps crop ratings & Ukraine news, plus WASDE positioning. Cattle up 9th day on higher beef and record cash ideas, hogs follow. Chuck Shelby, Risk Management Commodities.
Cattle extend gains on record cash and ideas of higher money this week. Hogs see short covering. Grains up on crop ratings and Ukraine concerns. Brad Kooima, Kooima Kooima Varilek.
SovEcon raised its 2023-24 Russian wheat export forecast by 2.7 MMT.
AgDay TV Markets Now: Shawn Hackett says corn and soybeans trade extended weather but what kind of premium does the market need to put in if the rain doesn’t confirm?
Cotton futures extended Friday’s weakness despite crude strength after top crude exporter Saudi Arabia pledged to cut production by an additional 1 million barrels per day from July.
Corn, beans, cotton lower trading weather, WASDE, exports, outside markets. Wheat higher on short covering. While cattle hit new highs w/record cash. Shawn Hackett, Hackett Financial Advisors has more.
Corn, beans lose early gains watching weather, WASDE, export inspections, outside markets. Cattle make new highs presenting a hedging opportunity, with hogs consolidating. Mike Zuzulo, Global Commodity Analytics.
Grains start higher then turn mixed watching weather, the $, crude oil and squaring ahead of the WASDE. However, what are cash basis levels doing on grain? Cattle make new highs. Nick Tsiolis, Farmer’s Keeper.
AgDay TV Markets Now: Randy Martinson with Martinson Ag says grains rally on Friday as funds buy heading into the weekend and put in weather premium, cattle are in record territory. Will it continue?
The House overwhelmingly approved a debt ceiling bill that also curbs federal spending, causing House Speaker Kevin McCarthy (R-Calif.) to hint at further tightening work requirements for safety net programs.
After a volatile week, Jerry Gulke was encouraged corn and soybeans closed higher Friday and near session highs. That tells him the weather market, which is still in its early stages, hasn’t run out of steam.
Soybean market outlook and price drivers over the next 90 days.
Grain and livestock futures end higher Friday. Grains supported by weather, outside markets and cash strength. Cattle made new highs on record cash trade. Have hogs finally bottomed? Randy Martinson, Martinson Ag
A recent report from CoBank’s Knowledge Exchange indicates the interest-related cost of carry for the 2023-24 marketing year is predicted to rise to record highs.
Grains up on weather, corrective buying, watching outside markets & news. Live cattle make new highs pushed by record high cash. Hogs see more short covering. Vince Boddicker, Farmers Trading Company has details.
Grains up except corn after poor weekly exports. Is it technical buying, weather? Cattle hit contract highs chasing sharply higher cash, outside markets are strong after a debt ceiling deal. Darin Newsom, Barchart.
AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing says grains higher on technical buying and put in weather premium, while cattle hit contract highs with sharply higher cash.