Commodity Markets, Prices & Futures

The U.S. exported $14.44 billion of agricultural goods in April against imports of $18.30 billion, resulting in a deficit of $3.86 billion.

Corn and soybeans see double digit gains on short covering and talk of China biz says John Payne, Advance Trading, while wheat struggled. Cattle were hit by more bird flu news, hogs reversed off new lows.

Cattle lower on more bird flu news but at least holding support. Scott Varilek, Kooima Kooima Varilek. Hogs make more new lows for the move and may contract lows.  Grains see a short covering bounce.

Jeff Hoogendoorn, Professional Ag Marketing, says the cash and cutouts have been stagnant. So, the lean hog futures have continued to take all the premium out of the market to trade down to the index.

The union warned a strike could significantly disrupt the flow of goods, services and individuals entering and leaving Canada.

The recent Treasury Department decision to allow U.S.-made ethanol and other biofuels to qualify for a SAF tax credit under the IRA/Climate Bill has sparked a range of reactions from different stakeholders.

Grain and livestock end lower.  Hogs make new lows for the move, pulling down cattle but funds are selling in livestock and back selling in grains.  Jeff Hoogendoorn, Professional Ag Marketing, wraps up the day. 

Corn and soybeans saw some early short covering as they are oversold but are getting drug down by wheat and fund selling says Kent Beadle, Paradigm Futures.