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#agriculture #farming

0:00 Intro
0:27 Corn and Wheat Selloff
1:14 The Farmer is Undersold
3:48 Fund Positioning
4:42 Brazil Update
5:59 Export Inspections
6:57 Biden Supply Chain Council
8:07 Cattle Collapse


🌾 Market Snapshot: Corn & Wheat Hit Lows, Cattle Futures Drop 📉🌽🐄

📊 Corn & Wheat Decline:
US corn and wheat futures hit fresh lows on Monday, with Dec23 contracts reaching $4.54/bushel and $5.88/bushel, respectively. Speculative selling, lack of a bullish catalyst, and December basis contracts contributed to the selloff.

📈 Money Managers Go Bearish:
Large money managers increased their net short position in corn, selling 27k contracts. Soybeans and SRW wheat also saw bearish trends, as highlighted in the Fund Tracker charts.

🇧🇷 Brazil's Soybean Planting Slowdown:
Brazil's 2023/2024 soybean planting is the slowest in eight years, with only 74% completed. Adverse weather conditions are impacting regions differently, affecting both soybean and corn planting.

🚢 US Soybean Shipments Dip:
Soybean shipments declined by 12% (1.4mmt) compared to the previous week. Corn and wheat shipments also experienced decreases, impacting export dynamics.

🌐 Biden Addresses Supply Chains:
President Biden announced a new White House Council on Supply Chain Resilience to tackle issues contributing to inflation. The first report is due by the end of 2024.

🐮 Cattle Futures in Retreat:
Cattle futures, especially feeder cattle, hit lows not seen in months, driven by fund selling and panic short hedging. Despite challenges, the overall cattle market outlook remains bullish.

📈 Stay updated on market dynamics! #Commodities #MarketUpdate #Agriculture #CattleMarket 🌍📊