Market Talk

Crude oil prices are moving lower as post-election uncertainty and escalating tensions weigh on the market. Grain traders are also looking ahead to next week’s major crop report, with positioning likely to pick up as the numbers approach. In livestock trade, disappointment in the cash cattle market has been followed by a modest bounce in futures. Meanwhile, the hog market continues to face a demand problem rather than an issue with supplies.

Money flow, outside pressure & wrapping up a frustrating October.

The Friday Market Talk breaks down the trade with Sue Martin of Ag & Investment, Brady Huck with Empower Ag Trading, Joe Kooima at Kooima Kooima Varilek (KKV Trading) and Arlan Suderman at StoneX

Higher hogs, pull back in cattle, not loosing faith in the markets as many wonder if tops have been set and will harvest pressure continue. Joining us today is Kyle Bumsted at Allendale, Brad Kooima at Kooima Kooima Varilek and Bryan Doherty at Total Farm Marketing.

Grain markets saw another headline-driven move after Bloomberg reported that China is looking at U.S. wheat. Trading algorithms quickly reacted to the news, sending prices higher as traders assessed the potential for additional Chinese demand.

In livestock markets, hog futures are finding a bounce, while cattle are pulling back after a period of strong prices. Meanwhile, a significant drop in unemployment numbers this week is adding another economic factor for markets to digest.

The Wednesday Market Wrap Up brings global wheat, Black Sea concerns, fed interest rates being left unchanged, deep dive in the hogs amongst other grain and livestock movers today. Hear from Arlan Suderman at StoneX, Mike Zuzolo with Global Commodity Analytics and Terry Linn with Linn & Associates.

Today's episode brings a market break down from Heather Ramsey at the ARC Group, Cory Bratland at AgMarket and Shawn Hackett with Hackett Financial Advisors.

Grain markets are seeing a path of least resistance to the downside at midday, with traders watching key technical levels for signs of support. Corn is testing its next area of support near recent lows, while soybeans are keeping an eye on the 100-day moving average after Monday’s sharp selloff.

The weaker Brazilian real is adding pressure to soybeans by making Brazilian supplies more competitive on the world market, potentially challenging U.S. export demand. Meanwhile, traders are watching reports of possible progress toward a deal to reopen Black Sea grain shipping routes. Any progress on that front could add further pressure to wheat prices by easing concerns over regional supply disruptions.

Midday Markets with Arlan Suderman at StoneX

On today's Market Talk we hear from Mike Minor at Professional Ag Marketing, Eric Snodgrass on weather at Nutrien Ag Solutions and wrapping up the trade is John Heinberg at Total Farm Marketing.

Susan Littlefield sits in for Jesse Allen today.

U.S. soybean export demand remains strong, but corn inspections delivered a disappointing number for the week ended October 22. USDA inspected 91 million bushels of soybeans for export shipment, while corn inspections totaled just 24.6 million bushels, the lowest weekly total in three years. Wheat inspections reached 6.8 million bushels, while no grain sorghum was inspected for export.

Despite the slower pace in corn, marketing-year-to-date inspections have reached 385 million bushels, reflecting an unseasonably strong start to the export season.

Meanwhile, political developments in Brazil are drawing attention from global grain traders. Brazilian stock futures reportedly plunged nearly 15% early in the session following the unexpected runoff election victory of President Luiz Inácio Lula da Silva. Trading was briefly halted after circuit breakers were triggered. Brazil is the world's largest soybean producer and the second-largest corn exporter, making developments there important to global agricultural markets.

Joining Jesse Allen is David Widmar

Joining Susan Littlefield is Scott Varilek and David Ericson.