News
Only minor adjustments expected in today’s S&D Report, President Biden hopes to “finish the job,” and feedlots may capture upper hand in cash cattle negotiations...
The mostly firmer tone overnight is expected to carry over to daytime trade as traders await USDA’s reports later this morning.
USDA WASDE today | Brazil crop estimates | Ukraine grain exports fall sharply
Grain and soy futures traded solidly higher overnight, led by old-crop soybeans.
Speech could have been titled “Let’s Finish the Job” because he kept repeating the refrain
USDA forecasts net farm income will decline $25.9 billion (15.9%) from last year to $136.9 billion, driven partly by an expected $5.4 billion (34.4%) drop in direct government payments.
CFTC delays report after cyber attack, Mexico looks to avoid USMCA dispute and President Biden says downing the Chinese balloon has not hurt relations with China...
Economists offer alternative plan for ag disaster program | Biden SOTU and ag sector
Farmer sentiment was up 11 points (9%) from year in January, according to the Purdue University/CME Group Ag Economy Barometer.
Rather directionless trade is expected this morning as traders prepare for Wednesday’s USDA reports.
Soybean futures recouped a portion of Monday’s losses overnight, while the corn market gave back yesterday’s gains and wheat futures showed a mixed tone.
The focus for the U.S. balance sheets will be the usage forecast, while the global focus will be on production.
Although soybean export inspections were down over 100,00 MT from the previous week, they continue to prove consistent. Wheat inspections topped pre-report expectations, while corn landed just above the low-end estimate.
Wheat futures are higher to start the week with corn futures choppy and soybeans under pressure. Cattle futures are higher with lean hogs lower to start the week...
Mixed trade is expected in the grain and soy markets this morning as traders monitor the U.S./China situation and prepare for USDA’s February crop reports on Wednesday.
Short-term trend turns bullish for live cattle and feeder cattle.
The real Title I safety net for many farmers: Insurance programs
Corn and soybean futures are weaker this morning after two-sided trade earlier in the overnight session, while wheat futures are narrowly mixed.