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    markets in ag industry

    enOctober 21, 2024
    1
    What are the proposed tariffs on products from China by Trump and Harris?
    How has the ongoing drought in Central Illinois affected crop yields?
    What is the current trend of corn, soybean, and wheat futures?
    Where are trade disputes affecting John Deere facilities located?
    Why is there price volatility in the corn cash market in Southern Minnesota?

    • Presidential Tariffs and AgricultureFarmers and ranchers in central Illinois, Midwest, and Dakotas closely monitor proposed tariffs by Trump and Harris; potential impact on cash market, while also keeping an eye on weather patterns affecting crop yields, with a rise in corn, soybean, and wheat futures this week.

      The agricultural industry in central Illinois and across the Midwest is closely monitoring the proposed tariffs by the presidential candidates Donald Trump and Kamala Harris, particularly those concerning products from China, and its potential impact on the cash market in the Upper Midwest and the Dakotas. Farmers and ranchers are also keeping a close eye on weather patterns, such as the ongoing drought in Central Illinois and Brazil, which could affect crop yields. Additionally, grain market analysis indicates that corn, soybean, and wheat futures have seen an increase this week. These commodity markets are being closely watched by Agri-Gold representatives in central Illinois, along with updates from the University of Minnesota Extension. Furthermore, recent news involves potential trade disputes affecting John Deere facilities, particularly in Mexico. Lastly, farmers are preparing for the upcoming planting season in Brazil's Mato Grosso region while monitoring weather conditions for a potentially cooler-than-average winter.

    • Stock & Commodity Market TrendsModest gains in cattle futures, hogs, corn cash market, crude oil, and Dow Jones; however, price volatility remains, especially in corn cash market of Southern Minnesota, causing concern.

      The prices for cattle futures, Peter cattle, lean hogs, and corn cash market in Upper Midwest have shown a slight increase, while crude oil and Dow Jones are also on an upward trend. However, it's important to note that these gains are modest, and there's still some variability in the market. For instance, the corn cash market in Southern Minnesota is showing a spread between elevators and ethanol plants, with prices ranging from 380 to 420 dollars per bushel at different locations. This price volatility is causing concern as prices have given much of their recent rally back, despite hopes that lows might have been reached in the soybean market a few weeks ago. Overall, it's crucial for farmers and investors to closely monitor these trends and potential changes in the market.

    • U.S. Corn & Soybean OutlookUnfavorable conditions in certain regions like Minnesota may affect yields, while trade issues with China remain a concern for agricultural sector, particularly ahead of the election.

      Despite a positive outlook for the overall U.S. corn and soybean crops in the coming year, certain regions such as Minnesota may face disappointing yields due to unfavorable conditions. The trade issues with China remain a significant concern, particularly in the agricultural sector, as we approach the election with two candidates who have been vocal about their stance on trade and tariffs. It's important to keep an eye on ongoing studies conducted by organizations like the National Corn Growers Association and American Soybean Association regarding the impact of these trade issues, especially those initiated during the Trump administration. While Minnesota's crop is progressing quickly due to dry conditions, the smaller corn pile at local elevators suggests potentially lower yields in some areas.

    • Minnesota Corn Yields & Market OpportunitiesDespite lower-than-expected corn yields due to wetness, quick harvest & dry conditions may reduce drying costs. Market rallies in corn and soybeans could offer selling opportunities for producers.

      This growing season in Minnesota has been challenging due to excessive wetness early on, leading to lower-than-expected corn yields, estimated to be around 180 bushels per acre. However, the quick harvest and dry conditions may help reduce drying costs. The conversation also highlighted the potential for selling opportunities during market rallies in corn and soybeans, as such events can provide profitable selling chances for producers. These insights are crucial for agricultural decision-making, particularly when it comes to pricing and production strategies.

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