Markets
Today’s commodity market news. Featuring expert analysis from Michelle Rook, Jerry Gulke and Pro Farmer Editors.
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.
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.