Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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.
Grains close mostly higher with technical buying and putting in weather premium. Cattle make new highs on sharply higher cash with consolidation in hogs. Chip Nellinger, Blue Reef Agri-Marketing has details.
Grains see technical bounce putting in weather premium. Cattle back into contract highs with higher cash bids being passed, while hogs are consolidating. Darren Frye, Water Street Solutions has details.
The President and Speaker of the House have reached a deal on lifting the debt ceiling. Why is this important for farmers and ranchers?
Grains recover weather premium back on the forecast and Drought Monitor. We also saw a technical selling exhaustion. Profit taking in cattle and hogs. Scott Varilek of Kooima Kooima Varilek has details.
Brazil is exporting a combined 120,000 MT of soybeans to buyers in the U.S., shipping data seen by Reuters showed.
AgDay TV Markets Now: Oliver Sloup with Blue Line Futures says grains end off lows Wednesday but the fund selling may not be done.
August live cattle rose 50 cents to $167.675. August feeder cattle gained $1.40 at $239.175. Both markets closed nearer their session highs, hit contract highs and closed at technically bullish monthly high closes.
Grains End Mixed and Off Session Lows but is the Fund Selling Done? Cattle Make Contract Highs Again
Grains end mixed and off lows after the early fund selloff on macroeconomic concerns, weather. Is the selling over? Cattle make more contract highs, while hogs see short covering. Oliver Sloup, Blue Line Futures.
Grains off lows but still seeing fund selling with macroeconomic sell off in commodities, and a wetter extended forecast. Livestock mostly higher except nearby live cattle. Joe Vaclavik, Standard Grain.
Grains see more fund selling with a bearish macro-economic picture, where do we find support? Live cattle hit by end of month profit taking, with short covering in hogs. Dave Chatterton, Strategic Farm Marketing.
It also urged buyers to purchase sprouted wheat that can still be used for feed or industrial purposes.
AgDay TV Markets Now: Ted Seifried, Zaner Ag Hedge says grains see significant pressure on profit taking, removing weather premium and with a risk off day. How much downside risk is there?
Grains see profit taking & remove weather premium, with lower crude oil prices. Cattle make new highs on higher, cutouts and a debt ceiling deal, while hogs see short covering. Kent Beadle, Paradigm Futures.
Shipments from Brazil’s largest private port terminal Tiplam at Santos is expected to grow 6.8% to a record 12.5 MMT this year.
Grains end sharply lower on profit taking, removing wx premium, with a risk off day in outside markets. Cattle hit new highs w/strong cash, cutouts. Hogs limit up on short covering. Ted Seifried, Zaner Ag Hedge.
Cattle make new highs on lower corn, higher cash ideas and debt ceiling discussions moving forward. Hogs are seeing a corrective bounce. Grains take out weather premium. Brad Kooima of Kooima Kooima Varilek.
AgDay TV Markets Now: Tommy Grisafi with Advance Trading discusses the recent recovery in grains and the continued inverted markets. Will farmers be selling old crop at new crop prices?