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Wednesday Market Watch - Row Crop Prices Quiet as Palm Oil Reaches New High It was a supportive day for the cattle complex as both the live cattle and feeder cattle markets were able to close higher as traders hope that the cash cattle market's willpower doesn't weaken. Meanwhile, the market wasn't as fruitful for the hog complex as traders weren't able to advance the market following Tuesday's higher end. Hog prices closed higher on the Daily Direct Morning Hog report, up $0.92 with a weighted average price of $78.27 on 5,276 head. More: https://ow.ly/6ivO50QSOHj May corn closed down 1/2 cent and December corn was up 1/4 cent. May soybeans closed up 3/4 cent and November soybeans were down 1 1/4 cents. May KC wheat closed down 9 3/4 cents, May Chicago wheat was down 3 1/4 cents and May Minneapolis wheat was down 8 1/2 cents. The U.S. Dollar Index is down 0.22 at 102.74. April crude oil is up $2.16 per barrel at $79.72. The Dow Jones Industrial Average is up 38 points at 39,043 with the NASDAQ down 88 points at 16,178. April gold is up $15.70 at $2,181.80, May silver is up $0.81 at $25.20 and May copper is up $0.1215. April ultra-low sulfur diesel is up $0.0694, April RBOB gasoline is up $0.0782 and April natural gas is down $0.043. The substantial increase in Class III milk futures seems to be psychologically driven rather than fundamentally driven. There has been no change in fundamentals that made the market more bullish. It seems it was a matter of initial strong buying which triggered more buying to liquidate positions and preserve some profit or to get out of the way in case the market continues to increase. An increase in underlying cash will now already be factored in. More: https://lnkd.in/gZmczKn7 https://ow.ly/AwG650QSOHi #dashboardreport #excellproallnatural #feedlot

Grain Price in Australia on 05 June 2024 Eastern Australian wheat values eased yesterday with ASW1 trading down A$2.50/t to $380.50/t for July. New crop markets also felt the effects of a softer offshore market with most down $5-10/t. WA current crop wheat buying interest remains solid and values are unchanged despite the shine coming off US futures this past week. WA APW1 remains around $420/t FIS Kwinana zone, H2 at $428/t and H1 about $442/t. New crop bids are lower, APW1 MG wheat was $420/t FIS, CAN $810/t FIS and feed barley $340/t FIS. https://lnkd.in/dn-fKr5h

Wheat futures are trading 5-10 cents higher this Wednesday. Tuesday saw gains of 3 ¾ to 8 ¾ cents for Chicago contracts and fractional to 5 ¾ cents for Kansas City futures. USDA's Crop Progress report showed winter wheat at 49% gd/ex, down 1%. IKAR reduced Russia's wheat crop estimate by 2.5 MMT to 83.5 MMT, with USDA's estimate at 88 MMT. Dry conditions persist in the Southern Plains. #Wheat #Futures #High #Chicago #USDACropProgressReport #RussiaWheatCrop

Grain Price in Australia on 05 June 2024 Eastern Australian wheat values eased yesterday with ASW1 trading down A$2.50/t to $380.50/t for July. New crop markets also felt the effects of a softer offshore market with most down $5-10/t. WA current crop wheat buying interest remains solid and values are unchanged despite the shine coming off US futures this past week. WA APW1 remains around $420/t FIS Kwinana zone, H2 at $428/t and H1 about $442/t. New crop bids are lower, APW1 MG wheat was $420/t FIS, CAN $810/t FIS and feed barley $340/t FIS. https://lnkd.in/dsBdKabR

Grain Price in Australia on 05 June 2024 Eastern Australian wheat values eased yesterday with ASW1 trading down A$2.50/t to $380.50/t for July. New crop markets also felt the effects of a softer offshore market with most down $5-10/t. WA current crop wheat buying interest remains solid and values are unchanged despite the shine coming off US futures this past week. WA APW1 remains around $420/t FIS Kwinana zone, H2 at $428/t and H1 about $442/t. New crop bids are lower, APW1 MG wheat was $420/t FIS, CAN $810/t FIS and feed barley $340/t FIS. https://lnkd.in/dsBdKabR

https://lnkd.in/g-RWNCYt #Wheat #futures bounced, clawing back some of this week’s losses, as renewed supply woes and investor profit-taking helped lift prices from recent lows. Contracts for September delivery of the grain used to make crackers and pastries jumped as much as 3.9% to $5.5625 per bushel in #Chicago, before trimming gains. A slew of reports that raised supply concerns — from a delayed harvest in #France to a reduced production forecast in #Germany and excessive dryness in #Canada — helped propel the market higher on Friday, counterbalancing the outlook for ample global supplies this season. The move was amplified by investors exiting some of their bearish wheat wagers after the commodity approached the lowest level in nearly four years earlier this week, according to Arlan Suderman, Chief Commodities Economist at StoneX Group Inc. Arlan Suderman  StoneX Group Inc.   Blog – Agriculture and Farming – August 2024 - https://lnkd.in/gNeYRR2c

ICE canola sets one-month high on short-covering Oct 2 (Reuters) - ICE canola futures rose on Wednesday for a third straight session on fund-driven, short-covering and uncertainty about crop prospects in Australia, traders said. November canola futures RSX4 settled up $7.10 at $617.90 per metric ton after reaching $619.80, the contract's highest since Aug. 30. January canola RSF5 ended up $7.50 at $631.50 per ton. Several analysts have lowered their projections of Australia's canola crop due to dry weather and frost. Meanwhile, Canada's canola harvest was winding down, reducing a source of seasonal market pressure. Manitoba's canola harvest was 78% complete, the province's latest weekly crop progress report said. On the Chicago Board of Trade, soybean futures Sv1 settled down 1-1/4 U.S. cents, or 0.12%, at US$10.56 a bushel but CBOT December soyoil BOZ24 ended up 0.73 U.S. cent, or 1.70%, at 43.64 U.S. cents per pound. Malaysian palm oil FCPOc3 jumped by 4.74% on Wednesday while Euronext November rapeseed futures COMX4 fell 0.10%. The European Commission said it would propose delaying by a year the implementation of its policy to fight deforestation. The policy requires companies importing soy, coffee, palm oil and other products to prove their supply chains did not contribute to the destruction of the world's forests, or face hefty fines. *All figures in Canadian dollars unless noted

Grain Market Outlook Price Prospects for 2024 Joe Janzen and Scott Irwin of the University of Illinois provided an in-depth analysis of the grain market outlook for 2024, including price forecasts, global supply and demand trends, and marketing implications for corn and soybean producers. Key topics covered: Review of 2023/24 USDA February WASDE report results Old and new crop corn and soybean balance sheet forecasts Export sales pace comparisons to previous years South American soybean production estimates Impact of input costs and interest rates on marketing Benchmarking farm-level marketing performance As grain prices face downward pressure in 2024, the presenters emphasized the importance of having an active marketing plan in place, rather than a 'store and ignore' approach. They provided insight into strategies for forward contracting, making new crop sales, and capturing opportunities in a volatile market environment. Overall, an excellent webinar reviewing the latest market analysis and offering actionable strategies for crop producers facing a more challenging economic climate this year. If you want to order food products, as well as equipment for its processing, then please contact us: E-mail: info@termo.partners, Tel.: +37063335553, http://termo.partners. #termopartners, #termo, #partners, #foodindustry, #innovation, #technology, #creativity, #future, #economy, #markets https://lnkd.in/d-Ynwf8w

Monday Market Watch - Traders Eye Market Cautiously; Row Crop Prices a Little Higher, Wheat Mixed It was a mixed day for the livestock complex as the feeder cattle market continued to rally but the live cattle and lean hog markets closed lower. Hog prices closed higher on the Daily Direct Afternoon Hog Report, up $1.42 with a weighted average price of $65.21 on 1,161 head. More: https://ow.ly/41ye50QAqx7 March corn closed up 1 1/2 cents and December corn was up 1 cent. March soybeans closed up 9 1/2 cents and November soybeans were up 5 cents. March KC wheat closed down 2 3/4 cents, March Chicago wheat was up 3/4 cent and March Minneapolis wheat was down 1 3/4 cents. The U.S. Dollar Index is down 0.03 at 104.09. The Dow Jones Industrial Average is up 105.98 points at 38,777.67. April gold is down $4.80 at $2,033.90, March silver is up $0.17 at $22.77 and March copper is up $0.040. March crude oil is down $0.09 at $76.75, March ultra-low sulfur diesel is down $0.0543, March RBOB gasoline is up $0.0124 and March natural gas is down $0.079. Class III milk futures are higher across all months $0.23-$0.24. Class IV futures had limited trading volume with contracts traded in June through September at 0.03-0.11 higher. Eyes will be on milk production since USDA lowered estimates last week. With unseasonably warm temperatures and harsh swings of Arctic air, you can imagine production could be affected over the last few weeks. Cattle prices climbing again make cull decisions on the forethought as well. More: https://lnkd.in/ghvFizt7 https://ow.ly/nggB50QAqys #dashboardreport #excelleratorallnatural

CBOT corn dips on Midwest weather ahead of USDA report CHICAGO, June 26 (Reuters) - Chicago Board of Trade corn futures Cv1 fell as industry players kept monitoring weather in the U.S. corn belt and positioned ahead of the U.S. Department of Agriculture's acreage report. CBOT September corn CU24 settled down 6-1/4 cents at$4.25-1/2 per bushel after hitting a contract low of $4.24-1/4 earlier in the day. CBOT new crop December corn CZ24 ended down 6-1/2 cents at $4.36-1/2 a bushel. Traders weighed the impacts of both heavy rains causing flooding in the central U.S., as well as an extreme heat wave across the same region. India on Wednesday allowed limited imports of corn, milk powder, crude sunflower oil and refined rapeseed oil at concessional duty, the government said in a notification seen by Reuters. Traders awaited data from the USDA's acreage report to be released on Friday.