Markets Today
Corn falls on report hangover, lower wheat, bearish outside markets. Soybeans pop on a record crush, lower Brazil crop. Cattle see a chart breakout on wx, higher beef, cash ideas. Ted Seifried, Zaner Ag Hedge, has more.
Corn sees report hangover with lower wheat, soybeans pop with lower Brazil crop, record crush. Cattle try to hold gains watching wx, cash, while hogs look tired. Vince Boddicker, Farmers Trading Company, has more.
Leading ag economists expect inflation to return in 2024 and that will not only have an impact on the interest rate environment, but it could bring the fund or speculative community back in to buy commodities.
AgDay TV Markets Now: John Heinberg, Total Farm Marketing, discusses how low corn needs to go to price in record yield and production. Does the soybean market have the bearish news already factored in?
Corn & soybeans tank on higher yields & production, with wheat following despite lower seedings & ending stocks. Live cattle followed lower cash, hogs consolidate. John Heinberg, Total Farm Marketing, has details.
USDA shocks the market with higher corn & soybean yield, production and carryout. SA numbers were not supportive either. Lower winter wheat acres and carryover slightly friendly. Jim McCormick, AgMarket.Net
Cattle consolidate early awaiting more cash & despite higher beef, but does the market have enough wx premium? Hogs see profit taking. Grains mixed ahead of USDA data. Scott Varilek, Kooima Kooima Varilek, has more.
AgDay TV Markets Now: Rich Nelson, Allendale, looks at what the grain market is expecting in the USDA Reports, what could move the market and how much is already factored into prices.
Grains end mostly lower except soybeans on exports, Argentina estimates & ahead of USDA data. Are bearish reports already priced in? Cattle & hogs finish strong on wx, firmer cutouts. Rich Nelson, Allendale, has more.
Grains are mixed with positioning ahead of the reports and weak exports, soybeans are oversold and seeing corrective buying. Cattle up on higher cash ideas and wx. Chip Nellinger, Blue Reef Agri-Marketing has more.