Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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.
Grains down on technical selling w/a risk off day, after taking out major chart support, weather is also bearish. Cattle see profit taking awaiting COF, with short covering in hogs. Kent Beadle, Paradigm Futures.
AgDay TV Markets Now: Chip Nellinger, Blue Reef Agri-Marketing talks about another risk off day in grains but says profit taking and rain chances in HRW areas were also factors. What’s the downside risk ahead?
Grains ended lower with another risk off day, but also saw profit taking. Rain chances also sunk wheat. Cattle recovered even with softer cash, but contract lows in hogs. Chip Nellinger, Blue Reef Agri-Marketing.
Grains lower w/risk off day, slow exports, rain chances in wheat areas, profit taking. Cattle rebound w/the discount to cash, some sales in NE at 288/183. Hogs down w/cash. Vince Boddicker, Farmers Trading Company
Another risk off day in commodities. Cattle consolidate with weaker cash, while hogs aren’t seeing follow through buying. Row crops are lower but how much downside risk is there? Scott Varilek, Kooima Kooima Varilek.
Agriculture is watching the ongoing contract negotiations between the unions at West Coast ports as tensions rise. However, the unreliability of shipping has already caused a shift in business to East Coast ports.
AgDay TV Markets Now: Don Roose, U.S. Commodities says risk off day, weather and Ukraine export resumption caused profit taking and selling in the grains Wednesday.
Grains and cattle mostly lower with a risk off day due to outside markets on hawkish Fed comments, weather, resumption of Ukraine exports. Hogs bounce off contract lows. Don Roose of U.S. Commodities has details.
Grains and now cattle have turned mostly lower in a risk off day in outside markets, but are also trading weather. Hog hit contract lows before short covering emerged. John Payne of Hedge Point Global Markets.
Grains see risk off and corrective selling, plus Ukraine shipments resumed. Cattle supported with tight numbers, strong demand, but hogs hit new lows. Tomm Pfitzenmaier, Summit Commodity Brokerage.
AgDay TV Markets Now: Darren Frye, Water Street Solutions says new crop corn and bean contracts led putting in weather premium, but will chart support hold once planting accelerates? And will old crop stay strong?
Corn and soybeans end higher but new crop leads putting weather premium. Wheat ignores crop ratings and weather, watches Black Sea news. Fund buying, strong cash supports cattle. Darren Frye, Water Street Solutions.
Wheat sets back on profit taking, with corn & beans trying to hold watching weather, seeing spread trade. Live cattle are consolidating, while feeders are supported by strong cash. Randy Martinson of Martinson Ag.
2-Sided in livestock with some consolidation. Will cash be higher again this week? Are hogs trying to bottom? Some profit taking and spread unwinding in corn. More with Brad Kooima, Kooima Kooima Varilek.
The strike by the Urgara grain inspectors union that prevented the loading of ships at the main Rosario export hub today is scheduled to end at midnight.
AgDay TV Markets Now: Matt Bennett with AgMarket.Net recaps the risk on day in ag markets, but says grains were also supported by weather and fund/technical buying after Nov soybeans and Dec corn held support.
Signs of an economic slowdown are flashing in the global diesel market, according to Bloomberg News.
Fund buying with the risk on day and strong technicals support ag markets. Plus, grains watch weather and the Argentina strike. Cattle recover with higher cash ideas. More with Matt Bennett of AgMarket.Net.
Grains all higher on weather and technicals, plus soybeans eye a strike in Argentina & NOPA crush. Cattle bounce on higher beef and cash ideas, with short covering in hogs. DuWayne Bosse of Bolt Marketing explains.
Wheat and corn mostly lower on spreads & profit taking, despite cold weekend temps. Soybeans up on Argentina strike. Cattle rebound on higher cash ideas. Kevin Duling, KD Investors explains.
AgDay TV Markets Now: Arlan Suderman, Chief Commodities Economist with StoneX says wheat and corn traded weather, China export news, while the big Brazil crop weighed on beans. Row crops focus on planting next week.
5, 30 and 90 day outlooks for the wheat markets.
Wheat put in war/weather premium, w/corn rebounding on China biz. Follow through selling in beans w/Brazil’s record supplies. Cattle saw some healthy profit taking, w/short covering in hogs. Arlan Suderman, StoneX.
Soybeans down on news of Brazil imports, corn gets a boost from China sales, wheat puts in weather & war premium. Cattle see profit taking & hedge pressure, w/short covering in hogs. Ted Seifried, Zaner Ag Hedge.
Cattle see profit taking & hedge selling after record cash. Mostly $175 South, $290 North. Hogs seeing short covering off contract lows. Bull spreading in corn w/ China biz.. Scott Varilek of Kooima Kooima Varilek.
AgDay TV Markets Now: Tommy Grisafi of Advance Trading discusses the risk off selling in grains and the drop coming in cash grain prices as May options expire and elevators roll from bidding off May to July.