Recent Livestock Analysis
Market Commentary: Macro Markets Stabilize, Soy Rallies on China Buying; Wheat Weaker on Planting
The CBOT was mixed on Tuesday with soybeans grinding lower and breaking support early in the day before rumors of Chinese purchases pushed the market to a positive close. Wheat was lower on last week’s news of a lower Russian export tax and corn seemed caught between the wheat and soybean...
Market Commentary: Macro Risk-Off Trade Pressures CBOT
The CBOT was lower to start the week with widespread “risk off” trade taking place in light of weaker macro markets. U.S. and world stocks were sharply lower as China’s largest property developer, Evergrande, is in the middle of a debt crisis and missed payments this morning,...
Summary of Futures
Dec 21 Corn closed at $5.2175/bushel, down $0.055 from yesterday's close. Dec 21 Wheat closed at $7.0075/bushel, down $0.08 from yesterday's close. Nov 21 Soybeans closed at $12.625/bushel, down $0.215 from yesterday's close. Dec 21 Soymeal closed at $339.8/short ton, down $2...
Methane and Climate Policies Ag Focus before U.N. Climate Meeting
There was a lot of activity last week in preparation for the upcoming United Nations climate meeting to be held in Glasgow, including a new U.S.-EU methane reduction agreement outline and a discussion among the G20 ag ministers about climate and ag policies. First, on Saturday, the U.S. and EU...
Meathead Packing Policy
Last week, USDA Secretary Tom Vilsack charged the U.S. meat industry with unethically profiting off of Americans during the pandemic. A charge totally refuted by the facts, including those unveiled by USDA career staff economists and witnesses at a Congressional oversight hearing. Now he is fei...
Market Commentary: Macro Risk Off
Don’t take it personally that markets across the board showed weakness today. Exceptions being the dollar and lean hogs. The problem is dropping consumer sentiment as growth slows in Asia and worries grow about inflation. Notable was the Biden Administration’s announced plan to atta...
Summary of Futures
Dec 21 Corn closed at $5.2725/bushel, down $0.0225 from yesterday's close. Dec 21 Wheat closed at $7.0875/bushel, down $0.0425 from yesterday's close. Nov 21 Soybeans closed at $12.84/bushel, down $0.12 from yesterday's close. Dec 21 Soymeal closed at $342.2/short ton, down $1...
Market Commentary: Tenuous Nudges
Without a lot driving the direction of the market, today was like a bickering old couple where bulls and bears disagreed over nothing important. Trades could be found on both sides of unchanged as each side sees something in its favor. Early expectations called for follow through on yeste...
Livestock Round Up: Back to School Outlook for Dairy
After on-line, remote learning, and shortened and staggered weeks at schools, this fall semester offers some hope to return to a more normal year for dairy. Most schools across the country are open and in-person, though there are school districts where there are quarantines and remote classes,...
Summary of Futures
Dec 21 Corn closed at $5.295/bushel, down $0.04 from yesterday's close. Dec 21 Wheat closed at $7.13/bushel, up $0.0075 from yesterday's close. Nov 21 Soybeans closed at $12.96/bushel, up $0.015 from yesterday's close. Dec 21 Soymeal closed at $344.1/short ton, up $4.5 from ye...
Market Commentary: Corn, Wheat Rally; Corn Yields Concerning; Crude Oil Offers Support
The CBOT was mostly higher on Wednesday, led by rallies in corn and wheat that broke their Friday (post-WASDE) highs. Milling wheat stocks are tightening around the world, fueling the rally, and little cash selling in the U.S. has allowed corn to rally easily. Soybeans were mixed but slightly h...
Summary of Futures
Dec 21 Corn closed at $5.335/bushel, up $0.1325 from yesterday's close. Dec 21 Wheat closed at $7.1225/bushel, up $0.115 from yesterday's close. Nov 21 Soybeans closed at $12.945/bushel, up $0.12 from yesterday's close. Dec 21 Soymeal closed at $339.6/short ton, down $2.2 from...
Market Commentary: Macro Markets Stabilize, Soy Rallies on China Buying; Wheat Weaker on Planting
The CBOT was mixed on Tuesday with soybeans grinding lower and breaking support early in the day before rumors of Chinese purchases pushed the market to a positive close. Wheat was lower on last week’s news of a lower Russian export tax and corn seemed caught between the wheat and soybean...
Market Commentary: Macro Risk-Off Trade Pressures CBOT
The CBOT was lower to start the week with widespread “risk off” trade taking place in light of weaker macro markets. U.S. and world stocks were sharply lower as China’s largest property developer, Evergrande, is in the middle of a debt crisis and missed payments this morning,...
Summary of Futures
Dec 21 Corn closed at $5.2175/bushel, down $0.055 from yesterday's close. Dec 21 Wheat closed at $7.0075/bushel, down $0.08 from yesterday's close. Nov 21 Soybeans closed at $12.625/bushel, down $0.215 from yesterday's close. Dec 21 Soymeal closed at $339.8/short ton, down $2...
Methane and Climate Policies Ag Focus before U.N. Climate Meeting
There was a lot of activity last week in preparation for the upcoming United Nations climate meeting to be held in Glasgow, including a new U.S.-EU methane reduction agreement outline and a discussion among the G20 ag ministers about climate and ag policies. First, on Saturday, the U.S. and EU...
Meathead Packing Policy
Last week, USDA Secretary Tom Vilsack charged the U.S. meat industry with unethically profiting off of Americans during the pandemic. A charge totally refuted by the facts, including those unveiled by USDA career staff economists and witnesses at a Congressional oversight hearing. Now he is fei...
Market Commentary: Macro Risk Off
Don’t take it personally that markets across the board showed weakness today. Exceptions being the dollar and lean hogs. The problem is dropping consumer sentiment as growth slows in Asia and worries grow about inflation. Notable was the Biden Administration’s announced plan to atta...
Summary of Futures
Dec 21 Corn closed at $5.2725/bushel, down $0.0225 from yesterday's close. Dec 21 Wheat closed at $7.0875/bushel, down $0.0425 from yesterday's close. Nov 21 Soybeans closed at $12.84/bushel, down $0.12 from yesterday's close. Dec 21 Soymeal closed at $342.2/short ton, down $1...
Market Commentary: Tenuous Nudges
Without a lot driving the direction of the market, today was like a bickering old couple where bulls and bears disagreed over nothing important. Trades could be found on both sides of unchanged as each side sees something in its favor. Early expectations called for follow through on yeste...
Livestock Round Up: Back to School Outlook for Dairy
After on-line, remote learning, and shortened and staggered weeks at schools, this fall semester offers some hope to return to a more normal year for dairy. Most schools across the country are open and in-person, though there are school districts where there are quarantines and remote classes,...
Summary of Futures
Dec 21 Corn closed at $5.295/bushel, down $0.04 from yesterday's close. Dec 21 Wheat closed at $7.13/bushel, up $0.0075 from yesterday's close. Nov 21 Soybeans closed at $12.96/bushel, up $0.015 from yesterday's close. Dec 21 Soymeal closed at $344.1/short ton, up $4.5 from ye...
Market Commentary: Corn, Wheat Rally; Corn Yields Concerning; Crude Oil Offers Support
The CBOT was mostly higher on Wednesday, led by rallies in corn and wheat that broke their Friday (post-WASDE) highs. Milling wheat stocks are tightening around the world, fueling the rally, and little cash selling in the U.S. has allowed corn to rally easily. Soybeans were mixed but slightly h...
Summary of Futures
Dec 21 Corn closed at $5.335/bushel, up $0.1325 from yesterday's close. Dec 21 Wheat closed at $7.1225/bushel, up $0.115 from yesterday's close. Nov 21 Soybeans closed at $12.945/bushel, up $0.12 from yesterday's close. Dec 21 Soymeal closed at $339.6/short ton, down $2.2 from...