Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Grains up putting in war premium w/the Black Sea Grain deal uncertain, but wheat is pricing in crop concerns. LC consolidate after a higher week, feeders and hogs strong. Randy Martinson, Martinson Ag. has details.
The WASDE report was bearish for corn with a 2.22 bb ending stocks estimate and beans at 335 mb. But bullish for wheat with the lower HRW crop. Jim McCormick of AgMarket.Net has price reaction.
A bearish reset of the corn and soybean markets is underway as they transition from tight drought-stricken old crop supplies to record production levels in 2023-24.
Markets digest record corn and soybean production in the May WASDE. With abandoned acres, winter wheat is the bullish surprise.
AgDay TV Markets Now: John Heinberg with Total Farm Marketing explains the market reaction to the bullish wheat surprise and bearish corn and soybean numbers in the WASDE Report.
Winter wheat’s rally held up corn with ending stocks at a bearish 2.22 billion bushels. How low do soybeans go to price in a 335-million-bushel carryover? John Heinberg, Total Farm Marketing, shares his insights.
Recap of the latest price action with key issues impacting prices over the next 5, 30 and 90 days.
What impact will the Proposition 12 decision have on the livestock industry and specifically the U.S. hog market?
Grains mixed ahead of the WASDE Report. What should we watch for and how much is baked into prices? Livestock 2-sided. Cattle have worked in lower cash, hogs Prop 12. Mike Zuzulo of Global Commodity Analytics.
AgDay TV Markets Now: Rich Nelson of Allendale says funds sell in corn and wheat on exports, weather and WASDE, while soybeans follow meal higher.
The May WASDE will provide the first new crop estimates of the growing season and this could be a volatile report with the transition from tight old crop stocks to much larger supplies of corn and soybeans.
Funds sell in corn & wheat on wx, poor exports, WASDE, outside markets. While soybeans bouce w/meal, lower Argentina estimate. Lower cash weighs on live cattle, hogs react to Prop 12. Rich Nelson, Allendale.
Funds sell in corn & wheat on poor exports, soybeans bounce with meal & a cut in Argentina, but is this also report positioning? Cattle rebound despite lower cash, hogs fail on Prop 12 news? Darin Newsom, Barchart.
Live cattle see more selling on outside markets, lower So. cash at $170. Hogs up on strong exports, higher cash. Grains down on poor exports, bearish WASDE. Scott Varilek, Kooima Kooima Varilek has details.
AgDay TV Markets Now: Mike Minor of Professional Ag Marketing says corn hold support while funds sell in soybeans ahead of WASDE with bearish anticipation.
Argentina’s government on Wednesday increased domestic prices of biodiesel for blending with conventional diesel.
Grains mostly lower except corn, with short covering after holding last week’s lows as markets for the WASDE Report. Cattle and hogs see profit taking w/bearish outside markets. Mike Minor, Professional Ag Marketing.
Grains bounce off their lows after holding support and with positioning ahead of the WASDE. Live cattle mixed awaiting cash direction, while hogs see follow through after the reversal. Randy Martinson, Martinson Ag.
Wheat under pressure as inspections resume in the Black Sea and some rain chances in HRW areas. Corn and soybeans bounced off support with no China cancellations, WASDE positioning. Nick Tsiolis, Farmer’s Keeper.
Lab-grown meat could be 25 times worse for the climate than beef. . .
AgDay TV Markets Now: Garrett Toay of AgTraderTalk says corn and beans see fund selling with fast planting, China cancellation and positioning for WASDE. However, he thinks markets may be too bearish.
According to state media the crackdown comes as Beijing moves to tighten foreign access to sensitive information amid growing tensions with the United States.
Grains mostly lower except hard wheat classes w/technical selling on China cancellations, fast planting, WASDE positioning. Cattle saw short covering on better cash ideas, w/hogs also up. Garrett Toay, AgTraderTalk.
Grains lower on fast planting, China corn cancellations, WASDE positioning, risk off outside markets. Live cattle mixed awaiting cash, while hogs are consolidating. DuWayne Bosse, Bolt Marketing has details.
Live cattle 2-sided but Brad Kooima, Kooima Kooima Varilek says cash could be steady/higher. Hogs mixed but struggle with big supplies. Grains lower on fast planting, wx, WASDE, China cancels 10.7 mb corn.
AgDay TV Markets Now: Pro Farmer’s Brian Grete Says Grains End Mostly Lower on Weather, WASDE, Money Flow and Black Sea Grain Deal Uncertainty.
Biofuel stocks have struggled recently due to a downturn in the industry, with some stocks declining more than 20% in the past year.
China seems to have made the strategic decision to buy ag products from just about every global supplier but the U.S., largely a result of the rising trade tensions between the two countries.
Grains end mostly lower except hard red wheats on weather, WASDE positioning and money flow. Cattle bounce with help from futures discount to cash, while hogs wait for cash to catch up. Brian Grete, Pro Farmer.
Wheat tries to hold early gains, with the rest of the grains fading ahead of crop progress and the May WASDE. Cattle rebound but await cash, hogs try to consolidate after an ugly week. Kent Beadle, Paradigm Futures.