Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
Pro Farmer breaks down soybean market outlook into 5-30-90 day segments.
Grains end higher Friday and for the week. Is the market confirming a bottom? A lower week for cattle on consolidation and hogs slide on sow liquidation. John Payne, Hedge Point Global Markets, shares insights.
Grains adding to gains. Is the market putting in a seasonal low? Cattle and hogs have a down week with lower cash and sow culling. Jeff Hoogendoorn, Professional Ag Marketing.
Darin Newsom with Barchart discuss whether or not he thinks the grain markets are bottoming, especially after the key reversals in wheat. But is it technical or fundamental? Plus, we discuss if crude oil bottomed.
AgDay TV Markets Now: Chip Nelliger, Blue Reef Agri-Marketing says wheat built on the key reversal and may be trying to bottom, while corn and soybeans held up despite bearish news.
The Federal Reserve raised interest rates 25 basis points on Wednesday and remains adamant interest rate cuts will not come until 2024 at the earliest.
The U.S. exported $15.86 billion in ag goods during March.
Wheat extends gains after Wednesday’s reversal. Soybeans and corn hold together in a risk off day with bearish weather and exports. Cattle consolidated, hog fail. Chip Nellinger, Blue Reef Agri-Marketing.
Short covering in wheat, but corn & soybeans held back by risk off outside markets & no bullish news in weather, exports. Cattle fade w/lower equities, hogs can’t sustain a rally. Mark Schultz, Northstar Commodity.
Cattle see a bounce as hedge pressure fades. Hogs can’t sustain a rally w/big numbers. Grains fail to see follow through after the reversals with poor corn exports and risk off. Scott Varilek, Kooima Kooima Varilek.
AgDay TV Markets Now: Ted Seifried with Zaner Ag Hedge Explains What Caused the Reversal in the Grains and If it Bottomed the Markets.
Senate Ag Committee Chair Debbie Stabenow (D-Mich.) warned of the potential impact for farm bill spending if there are cuts tied to any deal to increase the debt limit.
A key reversal in wheat after a drone strike at the Kremlin pulls corn and soybeans higher as well. AgDay’s Michelle Rook chats with Ted Seifried about the headlines and the market response.
Wheat reverses as a drone strike on the Kremlin puts the Black Sea grain deal in question, pulling corn & beans off the lows. Cattle down ahead of Fed decision w/lower cash. Dave Chatterton, Strategic Farm Marketing.
Risk off selling again in cattle, corn & soybeans ahead of the FOMC announcement and with support breached. Wheat bounces on a Russian war headline. Short covering in hogs. Vince Boddicker, Farmers Trading Company.
During the chairman’s presentation to CIPA, he was passionate about getting a farm bill done, but acknowledged several hurdles . . .
AgDay TV Markets Now: Bryan Doherty of Total Farm Marketing details corn marketing strategies for farmers after the recent price drop and if this a buying opportunity for livestock producers.
A big risk off day in outside markets with more bearish bank news ahead of the Fed announcement. That caused fund selling in most of the ag markets. Plus, more favorable weather. Kevin Duling, KD Investors has more.
Mostly lower markets with spillover from risk off in DOW and oil ahead of the FOMC meeting. More favorable weather and fast planting pace also weighs on grains. Randy Martinson with Martinson Ag.
Cattle see profit taking w/risk off, plus some lower southern cash at $172. Hogs mostly lower waiting for cash to catch up. Funds sell Dec corn, will prices hold soon? Brad Kooima, Kooima Kooima Varilek.
AgDay TV Markets Now: DuWayne Bosse of Bolt Marketing says risk off fund selling and weather pull down corn and wheat, but soybean technicals more bullish.
EPA has announced it will issue an emergency waiver to allow E15 use this summer. The temporary waivers will be issued every 20 days and exempt the 15% ethanol fuel blend from volatility requirements.
Mostly Lower Except Soybeans with Risk Off Fund Selling, Bearish Weather: Profit Taking in Livestock
Lower except soybeans as risk off in outside markets triggers more fund selling. Plus, better planting weather, rain chances for HRW areas. Consolidation in cattle & hogs, watching cash. DuWayne Bosse, Bolt Marketing.
Fund selling continues in corn and wheat, with risk off including lower crude oil and bearish weather. Cattle and hogs consolidate with a higher dollar. Mike Minor, Professional Ag Marketing has details.
Lower with risk off going into the FOMC meeting. More spec selling in grains, but weather is also bearish. Cattle and hogs seeing profit taking after higher week but cash is key. Kent Beadle, Paradigm Futures.
Grain markets collapsed this past week, posting lower weekly closes on massive fund selling. Jerry Gulke says it’s the start of a major reset and the realization the U.S. is not competitive as China cancels corn buys.
Some $3.1 billion — three times more than originally planned — will be spent on 141 pilot projects to offer incentives that encourage producers to adopt climate-mitigating practices on working lands.
Grain markets end mostly higher Friday on end of month profit taking. Is the fund selling over? Cattle consolidate with weaker cash. Are hogs bottoming? Bryan Doherty @TotalFarmMktg has more.
Grain markets try to recovery after an ugly week, is this just an end of month dead cat bounce or is the market bottoming? Cattle consolidating but short covering in hogs. Darren Frye Water Street Solutions has more.
Grains have had an ugly week. Soybeans are seeing some corrective buying, wheat is trying to consolidate but more fund selling in corn. Cattle trade 2-sided on a lack of cash news. Allison Thompson, The Money Farm.