Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
As of April 25, 46% of the U.S. was covered by abnormal dryness/drought, down one point from the previous week.
AgDay TV Markets Now: Alan Brugler with Brugler Marketing talks about the ugly day in grain markets, if China cancels more sales and when the selling may subside.
A tough down day in grains with massive fund selling, weather played a role as well as the China corn cancellation. Cattle back near highs, while hogs fail. More with Alan Brugler of Brugler Marketing.
Massive fund selling pushing grains lower, but are they getting close to a bottom? Cattle firm with strong beef prices, but waiting for more cash direction. Hogs are struggling. Mark Schultz, Northstar Commodity.
Grains see more fund selling, on weather, China corn cancellation. Cattle futures consolidated with limited cash news. Can hogs build on Wed. strong close? More with Scott Varilek, Kooima Kooima Varilek.
Grains in the red with more fund selling and a China corn cancellation. Cattle trade 2-sided still consolidating with sketchy cash news. Can hogs build on Wed. strong close? Scott Varilek, Kooima Kooima Varilek
AgDay TV Markets Now: Shawn Hackett of Hackett Financial Advisors talks about the triggers behind the selloff in grains and how much more downside risk there is.
Canadian farmers intend to plant 27.0 million acres to wheat in 2023, up 1.58 million acres (6.2%) from last year, according to Statistics Canada (StatCan).
More fund selling in grains on weather, demand concerns w/Brazil. Risk aversion is a problem with economic data ahead of the Fed meeting. How much lower will prices go? Shawn Hackett of Hackett Financial Advisors.
Corn and wheat under pressure with more fund selling taking out support. Soybeans see a corrective bounce. Cattle and hogs see more technical selling watching cash. Jim McCormick with AgMarket.Net.
The European Union agreed to set binding targets for airlines in Europe to increase their use of sustainable aviation fuel (SAF), to kickstart a market for green fuels and cut the aviation sector’s carbon footprint.
Grains quietly lower, but are the markets close to a bottom and ready to put in a spring rally? Cattle and hogs are under pressure with cash the key to bottoming. Rich Nelson of Allendale has more.
AgDay TV Markets Now: Oliver Sloup of Blue Line Futures talks about another day of risk off fund selling in wheat and soybeans, corn holds support but for how long?
USDA’s Cold Storage Report showed frozen beef stocks declined more than average during March. But pork stocks climbed contra-seasonally.
The cattle market has taken a break from the highs, but it may be too early to get bearish. What Does USDA’s April 1 Cattle on Feed Report tell us about supplies and prices moving forward?
Markets end mostly lower with risk off fund selling, weather, fast planting, Brazil prices. Cattle consolidating waiting for cash direction, with hogs failing. Oliver Sloup, Blue Line Futures has details.
Funds continue to sell in grains with risk off from outside markets, fast planting, rain for HRW areas & Brazil competition. Cattle consolidate but cash is key. John Heinberg, Total Farm Marketing.
Cattle continue to correct w/lower cash trade ideas, but how low will prices go? Hogs see short covering & spread unwinding w/cattle. Grains continue to see technical selling. Brad Kooima, Kooima Kooima Varilek.
AgDay TV Markets Now: Mike Zuzulo of Global Commodity Analytics says funds sell again in grains with bearish demand story, including China cancellations.
A historic drought has severely cut the size of this year’s crop in Argentina, especially soybeans. Processors will be forced to import soybeans just to stay in business.
They added they were ready to aid the reconstruction of Ukrainian agricultural facilities damaged by the war.
Fund selling in grains with bearish export news including the China cancellation, poor inspections, Black Sea and Brazilian competition. Cattle down on COF, softer cash, hogs up. Mike Zuzulo, Global Commodity Analytics.
The cattle market has moved into uncharted territory. It came as a result of one of the worst droughts in history but how long will the bull market last?
Fund selling in corn w/China cancellation, beans follow w/uncertainty on biofuels tax credits & Brazil’s cheaper crop. KC, MN wheat add weather premium. Cattle softer on COF, cash. Randy Martinson, Martinson Ag.
More fund selling in corn w/the China cancellation, strong cash and spreads support beans, with wheat trading weather. Cattle set back on the bearish COF, hogs up on short covering. Michelle Rook has details.
Corn, beans see technical selling breaching major support, option expiration, weather also factors. Cash basis firm but how long will that continue, how will MI River flooding effect it? Nick Tsiolis, Farmers Keeper.
Grains posted lower weekly closes, erasing all the gains of the previous week and more. Jerry Gulke sheds light on the various factors that caused the slide and what that means for market direction.
AgDay TV Markets Now: Darin Newsom with Barchart talks about what triggered the fund selling in the grains to end the week and if farmers lost their shot to sell new crop corn and beans.
Price action plus soybean market outlook for the next 5, 30 and 90 days.
Grains close lower Friday on fund selling. What triggered it and will it continue next week? Where does crude oil go after filling the chart gap? Will cattle continue to be a bull market? Darin Newsom, Barchart.