Market News
Spring wheat acres top expectations
Brownfield Ag News21 minutes ago
The USDA sees an increase in spring wheat acreage. Farmers are expected to plant 11.335 million acres of non-durum spring wheat in 2024, above analysts’ expectations and 1% more than in 2023, with most of that hard red spring. Total wheat acreage is estimated at 47.498 million acres, 4% lower,...
Sorghum acres below last year
Brownfield Ag News37 minutes ago
Sorghum acreage is expected to be down this year. The USDA estimated sorghum planted area at 6.394 million acres, 11% less than 2023, but a little bit more than what producers planted in 2022. That year to year drop is largely due to declines in the top production states of...
Midday cash livestock markets
Brownfield Ag News37 minutes ago
Direct cash cattle trade has been slow to pick up. Bids have surfaced at $85 live in the South and $297 to $298 dressed in the North. That’s still quite a few dollars from current asking prices, which are around $186-plus live in the South and $300 to $302 dressed...
This Bausch Health Companies Unusually Active Option Is a No-Brainer
Barchart41 minutes ago
Bausch Health Companies had the 8th-highest Vol/OI ratio in Wednesday trading. The pharmaceutical company’s unusual options activity suggests it might have more gains ahead.
Corn Rallies Out of Reports
Barchart48 minutes ago
Corn futures shot higher after NASS released data near midday. Current prices are working at or near their highs for the day with double digit gains of as much as 17 ¼ cents. NASS data showed corn stocks were counted at 8.347 bbu as pf March 1st, including 5.079 bbu...
Beans Back to Mixed for Midday
Barchart48 minutes ago
Soybeans were fading into the reports, before rallying out of the release. Current quotes are back to mixed as the new crop futures are holding fractional to 4 cent gains and old crop prices are back to 2 cents in the red. Midday Soymeal futures are trading $2 in the...
Hogs Pushing Upside into NASS Data
Barchart48 minutes ago
Lean hog futures are trading near to 70 cents under the session high for midday wit 40 to 8- cent gains on the board. USDA’s National Average Afternoon Base Hog price was $1.37 weaker to $79.26. The CME Lean Hog Index was $83.69 for 3/25, back up by 21 cents....
Wheat Futures Up Double Digits
Barchart48 minutes ago
Midday wheat futures are gaining double digits for midday, with prices ~5 cents off their highs. Chicago is up by as much as 2.9% for midday. KC wheat is gaining 8 to 11 cents so far. Spring wheat futures were slow to join the rally with futures near their highs...
Cattle Mostly Higher so far
Barchart48 minutes ago
Live cattle futures are trading with midday gains of as much as $1.80 across the front months. Feeders are also in the black with gains of as much as 80 cents. USDA confirmed some light cash trade on Wednesday mostly near $185, or $3 below last week. The 3/26 CME...
Cotton Mostly Higher with Low Acreage Reported
Barchart48 minutes ago
Cotton futures are 70 points off their session highs into midday, following a strong surge out of the NASS data. New crop futures are also up by 21 to 43 points for midday. FAS data showed cotton bookings were 98.2k RBs for the week that ended 3/21. That was up...
Quarterly stocks mostly up on year
Brownfield Ag News53 minutes ago
U.S. corn stocks on March 1st were a little bit tighter than what analysts were expecting, while soybeans and wheat topped estimates. The USDA says corn stocks halfway through the marketing year were 8.347 billion bushels, just under the average pre-report guess, but still up 13% on the year, partially...
Opportunities for U.S. corn in SE Asia
Brownfield Ag News53 minutes ago
An Illinois farmer says a recent trade mission to southeast Asia highlighted export opportunities for U.S. corn. Dan Meyer, who farms in east-central Illinois, tells Brownfield Vietnam’s aquaponics industry is a prime example… “The biggest thing is fish farms and shrimp and the focus on that.” He says, “The opportunity...
Sugar Rallies on Strength in Crude and a Possible Reduction in Sugar Imports from Mexico
Barchart1 hour ago
May NY world sugar #11 (SBK24 ) this morning is up +0.38 (+1.71%), and May London ICE white sugar #5 (SWK24 ) is up +10.50 (+1.63%). Sugar prices this morning are moderately higher, with NY sugar posting a 1-month high and London sugar posting a 1-1/2 month high. Today's rally...
USDA: corn acres down, soybeans up in 2024
Brownfield Ag News1 hour ago
The USDA expects farmers to plant fewer acres of corn and more acres of soybeans in 2024. Corn planted area is projected at 90.036 million acres, at the low end of pre-report guesses and 5% less than 2023, with acreage steady to lower in 38 of the 48 states used...