Markets - General
USDA’s adjustments in WASDE this week were encouraging to Matt Bennett and Joe Vaclavik. They explain why in Markets Now.
While oil proved it’s possible commodities can trade blow $0, it may not be probable. Analysts say the driving factor is demand.
Corn prices continue to creep lower, but what will it take to push prices higher? Mark Gold and Sam Hudson discuss markets on U.S. Farm Report this week.
“I think this points us in the right direction and it shows us what the trend is going to be,” says Chip Flory, AgriTalk host.
As is so often the case, technical action (price changes) can predict fundamental changes in price direction market, and often does sometimes weeks in advance.
Cash rents are due in roughly 30 days, and some farmers are looking at ways to generate some cash. One way to do it is to move grain, and that’s when basis can come into play.
In 1983 for the first time, planted soybean acres surpassed corn acres by 3.5 million acres. Some market analysts thought 2017 would be another year this would happen, but it didn’t.
For 2019, USDA predicts U.S. farmers will plant 92 million acres of corn, which is a 3.3% jump from last year. Alternatively, farmers will plant 85 million acres of soybeans, which is down 4.7% from last year.
China just made a historic buy, purchasing 9% of the U.S. sorghum crop in a single week, but can the buying momentum last? Industry insiders say livestock feed needs are a positive sign of more purchases to come.