Market Analysis
In today’s 2 minute drill, we zoom in on the monthly chart of May corn futures. We saw a nice pop off of the contract lows in late February, but have been stuck in a 10 1/2 cent range since then.
Grains lower on profit taking after corn and beans hit resistance, plus farmer selling & report positioning. Cattle bounced, while hogs set back with lower cash and cutouts. Ted Seifried, Zaner Ag Hedge, has more.
Corn and soybeans post higher weekly closes. Does this finally confirm a low? Bryan Doherty says corn “hasn’t turned all the way yet” and soybeans likely will experience pressure from Brazil’s harvest and prices.
Corn and wheat rallied on end of month profit taking by the speculative traders, while soybeans and cattle faltered. Arlan Suderman with StoneX has details.
Jon Scheve discusses the likelihood of a market rally, and what needs to happen for it to become a reality.
Grain markets are attempting to recover some lost ground in the early morning trade, will the strength last through today’s session?
USDA’s Ag Outlook Forum in Washington, D.C., this past week confirmed growing stocks in 2024/2025. Analysts say without a sudden supply disruption, the commodity price outlook remains grim.
Chip Flory warns that as more crush capacity comes online, the soybean market might realize it waited too long to bid for 2024 soybean acres.
What caused the price pressure again this week? Naomi Blohm of Total Farm Marketing by Stewart-Peterson and John Payne of hEDGEpoint Global join U.S. Farm Report to discuss what the market is watching.
We asked seven commodity market analysts to give commodity market outlooks for 2024 With their insights, the bearish market conditions will carry over, with a slightly more optimistic outlook for soybeans over corn.