Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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...
Grains failed Friday as funds sold on bearish fundamentals, poor technicals and the debt ceiling stalemate. Cattle were the bright spot with steady to higher cash, new high in feeders. Don Roose of U.S. Commodities.
Grains mixed after a higher start looking for support but is this bottoming action? LC trade firmer cash but cautious ahead of the COF. Milk markets struggle w/demand & supply. Bryan Doherty, Total Farm Marketing.
Grains are trying to recover, but are these short term lows? Was wheat chasing headlines this week? Cattle strong with some firmer cash. And what are outside markets hinting on the economy? Darin Newsom, Barchart.
Zippy Duvall, president of the American Farm Bureau Federation, testified before the Senate Agriculture Committee’s Subcommittee on Commodities, Risk Management, and Trade, underscoring the importance of the farm bill.
AgDay TV Markets Now: Mark Schultz of Northstar Commodity says funds are selling in grains with the lack of a bullish supply or demand story.
The job market is strong, and the economy is slowly growing. However, there are four complicating issues making investors defensive, which reduces money flow to the markets.
The Black Sea Grain Initiative has been extended again for 60 days. What does it mean for the grain markets?
The Buenos Aires Grain Exchange cut its Argentine soybean crop estimate by 1.5 MMT.
Funds continue to sell in grains w/ no bullish supply or demand story. When does the bleeding stop? Cattle are the bright spot w/fats pricing in steady to higher cash. Hogs mixed. Mark Schultz, Northstar Commodity.
Funds accelerate selling in grains and hogs early with no bullish news but are trying to find support. Cattle stronger w/lower corn and higher cash ideas. Chip Nellinger with Blue Reef Agri-Marketing.
Live cattle 2-sided ahead of COF, corn pushes feeders higher. Hogs consolidate despite stronger cash. More fund selling in corn and wheat, but soybeans are try to recover. Scott Varilek, Kooima Kooima Varilek.
AgDay TV Markets Now: Vince Boddicker of Farmers Trading Company talks about the meltdown in grains as Dec corn closes below $5, Nov. soybeans below $12. Is the low close?
BP has set a target of increasing its biofuel output to 100,000 barrels per day (bpd) by 2030.
Commodity wide fund selloff but grains pressured by China corn cancellation, Black Sea Grain deal, big crop. Livestock mostly lower except nearby LC, on steady cash ideas. Vince Boddicker, Farmers Trading Company.
Markets see commodity wide fund selling on bearish news including: China corn cancellation, Black Sea Grain deal, big yield ideas. However are prices close to a low? Shawn Hackett of Hackett Financial Advisors.
The Biden administration recently published a proposal to expand the jurisdiction of the Committee on Foreign Investment in the United States (CFIUS). . .
Grains are mostly lower with fund selling on the China cancellation, Black Sea Grain deal. Wheat trades tour results. Livestock mostly lower in consolidation mode. Allison Thompson with The Money Farm has more.
AgDay TV Markets Now: Matt Bennett with AgMarket.Net explains the selloff in the grains on Tuesday and if Nov soybeans will hold $12 and Dec corn $5.
A boom in renewable diesel production has led to a drastic decrease in California’s low-carbon fuel credit prices, affecting the economic viability of other renewable-energy projects. . .
Grains and live cattle end mostly lower on spec selling on a risk off day. Sharply lower bean oil, planting pace and profit taking in the wheat were also features. Matt Bennett, AgMarket.Net explains.
Grains see spec selling and profit taking, with fast planting pace. Soybeans hit by bean oil at 2-year lows. Cattle pricing in steady cash, with funds buying in hogs on firmer cash. Kent Beadle, Paradigm Futures.