The Final Bell

Looking at export numbers released today, weather front moving in bring some much-needed moisture to the western corn belt. Some trade friction with a return to demand. Mike had a report he did looking at China. Is there some retaliation coming from China to countries that question the COVID-19 start? Cattle on Feed report out on Friday. Grocery store with ground beef prices.

Corn received the short end of the spreads. Wheat has had some dry weather issues. The virtual wheat tour is under way in Kansas. How will that effect the way the market trades? Brazil has had some weather, is there a break headed their way in the drought. EU & Black Sea weather…what is the damage? Impact of the CARES act what will that mean for the markets. Update on African Swine Fever.

5-19-20 President Trump spoke to the farmers today. How are his comments going to have an effect on the markets today & in the days to come? Is the world starting to turn against China & will it help to straighten things out? Politics involved muddies the waters. Is there some stabilization happening in the ethanol market? The President also suggested not taking beef from other countries. A quiet day in the cattle market. Boxed beef dropped again on the day. Hogs saw a downtrend for a Tuesday.

Why was the Monday trade so quiet? Is it the calm before the storm? Dow was up, talk of China & trade once is making the news. Is the bans on foreign trade circling back to COVID-19 & China. Cooler temps will that have any effect on the crop progress tonight? Australia gets a tariff put in place on beef from China, China turns around and buys blueberries & barley from the U.S. will this lead to more buys? Higher cattle lower boxed beef. Even though still behind on processing movement more cattle are moving through the plants. Nearby hogs lower dealing with China & taking pork…not still enough to make a dent.

Post virus reopening…crude oil is getting higher; ethanol demand is picking up. Is there a shift in the markets? Potential inflation due to spending? COVID outbreaks at the ports in South America. What does that mean for U.S. exports? Crazy milk market. Seeing some pre-virus prices in come contracts! Lower box beef levels on a Friday.

May contract goes off the board today. Some disappointment in the beans. Weather will continue to be on the back burner. Bean & China…what about the trade talk wants? Cattle had another rough day with hogs being able to hold their own. Thoughts on the movement of boxed beef.

Risk off across the board. Equities under pressure. Did we forget about yesterday’s WASDE report that fast? Global economy is it falling apart? Are we opening to quick? Has a negative tone been set? How is the ethanol market faring? How dry is it in the Western U.S.? Another drop in the cattle market …same battle with what the value of the animals are at the slaughter plants.

Reaction to the WASDE report. Big stocks to use ratio for corn. How will these numbers play out into the rest of the trading week? Significant acres remain unharvested in North Dakota last month, USDA will re-contact producers there in May to gather production data on those acres. We will find those numbers out in June. Ethanol production numbers from today’s report. Only one big number in soybeans & that was the drop in exports. Limit up trade came back to the cattle market for a Tuesday. How much outside influence is factored into the cattle market? Still some positive from the hogs in part from cattle but also cutouts from the hogs.

Chinese buying soybeans. WASDE on Tuesday. Est for 2020 carryout is 3.3 billion could be a new record. Largest corn crop on record. What about the stocks to use ratio? How will ethanol & feed demand fair? What are the soybean numbers looking like? Lower stocks & carryout for wheat. On the flip side livestock took a hit on a Monday for the cattle. Hogs were lower, but not as drastic as the cattle market.

Green on the screen for a Friday in the grains. To keep in perspective, low commodity prices is taking its toll. Change in the week for corn, beans, wheat, cattle & hogs for the week. Demand & exports. Weather, ethanol working towards processing with DDG’s for livestock.