Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Jerry Gulke, president of the Gulke Group, says the rally was both a weather and a technical recovery. The key is how long will the rally last and how should farmers position themselves in the market?
Grains ended higher Friday and for the week. What will it take beyond weather to keep the rally going and is the rally a gift farmers need to be selling? Tommy Grisafi with Advance Trading has analysis.
Grains put in weather premium ahead of the holiday but what will it take to keep going? LC hit new highs with strong cash and cutouts but what’s it going to take to bottom the hogs? Ted Seifried, Zaner Ag Hedge.
Grains higher on weather and pre-holiday positioning. Fund buying in live cattle after contract highs, higher corn presses feeders. Hog hit contract lows on demand concerns. Mike Minor, Professional Ag Marketing.
The pork sector, especially in Canada, is facing a challenging road to profitability in 2023 due to several adverse conditions.
AgDay TV Markets Now: Alan Brugler, Brugler Marketing discusses the mixed day in #grains as traders position and take profits before the holiday. Weather, exports and the debt ceiling talks were also key.
According to a person familiar with the matter, there is no certainty Viterra will be able to reach an agreement on the terms of a deal.
India expects to harvest a record 112.7 MMT of wheat this year, the country’s ag ministry said.
Grains end mixed seeing pre-holiday positioning/profit taking, eyeing weather, exports, debt ceiling talks. Cattle made contract highs with higher cash, contract lows in hogs. Alan Brugler, Brugler Marketing has more.
Grains mixed on pre-holiday positioning, profit taking, weather and poor weekly exports. Cattle see profit taking and hedge pressure after contract highs, hogs make contract lows. DuWayne Bosse, Bolt Marketing.
Cattle open strong with contract highs following higher cash trade. Hogs gap lower into contract lows again. Grains are mixed watching weather and exports. Scott Varilek, Kooima Koomia Varilek.
Price action, fundamental and technical analysis for Wednesday, May 24th.
AgDay TV Markets Now: Darren Frye with Water Street Solutions discusses how much weather premium the grain markets need to have at this point in the season.
Corn rallies on dry weather, but soybeans can’t follow after failing technically. Rains in the So. weighed on wheat and cotton. Cattle score more contract highs on strong cash. Darren Frye, Water Street Solutions.
Hoeven emphasized the importance of food security to quality of life and aims to maintain effective farm policy.
Grains trade weather, but how much premium do corn and soybeans need to put in? And is the wheat market taking too much premium out? Cattle trade higher on tight supplies and higher cash. Steve Freed ADMIS.
Corn and beans trade hot dry weather, while rains the So. Plains weigh on the wheat and cotton. Cattle consolidate watching weather, cash and corn. Hogs try to bounce, John Payne, Hedge Point Global Markets.
AgDay TV Markets Now: Kent Beadle with Paradigm Futures says Black Sea export news and weather rallied corn and wheat Tuesday, but why did soybeans fail to follow?
The soy complex was the clear underdog today, after having made the largest gain since September in the previous session.
Wheat and corn closed higher on Black Sea export concerns and putting in weather premium. Soybeans and cattle were hit by profit taking, with more contract lows in hogs. Kent Beadle, Paradigm Futures.
Wheat rallies with Russia stopping exports out of a Ukrainian port. Corn follows but is also putting in weather premium. Soybeans and cattle see profit taking. Kevin Duling with KD Investors has details.
Profit taking in cattle w/higher corn, awaiting cash. Hogs score more contract lows. Corn, wheat extend gains on weather, with profit taking in beans. Brad Kooima of Kooima Kooima Varilek.
The European Union’s crop monitoring service raised its forecasts of this year’s EU soft wheat and rapeseed yields, citing a good crop outlook overall except in the drought-impacted Iberian peninsula.
AgDay TV Markets Now: Naomi Blohm with Total Farm Marketing talks about how long the recovery rally may last in the grain markets.
Three employees at USDA’s largest ag research center filed whistleblower complaints alleging years of mismanagement.
Corn and soybean markets were up on corrective buying and putting in weather premium. Wheat followed. Cattle saw profit taking after a neutral COF report, hogs hit contract lows. Naomi Blohm, Total Farm Marketing.
Corn & soybeans bounce technically as they are oversold but also putting some weather premium in. Wheat falters on poor demand. Cattle consolidate after a neutral COF. Tomm Pfitzenmaier, Summit Commodity Brokerage
After a two-year bull markets, grain prices have set back well off the highs. So are the commodity markets in reset or is this just part of a larger commodity super cycle?
AgDay TV Markets Now: Don Roose with U.S. Commodities talks about the ugly week in grain markets and why the funds keep selling. When will it end?
Ukraine would consider allowing Russian ammonia to transit its territory for export...