USDA lowered its soybean production forecast, which caused a rally. However, a social media post from the President earlier in the week also shook the market.
Darin Newsom with Barchart says he is not paying much attention to outside noise.
“For people in agriculture to believe that any U.S. President can ‘urge China to change its policy or its trade practice’ is beyond ridiculous, but yet that’s where we were. That’s where we were all Monday session, and now we’ll see what happens. I mean, will sanity return to the market? Probably not.”
Newsom says for him, it all comes down to fundamentals, something he says has not seen much change.
Related Stories
U.S. export inspections turned in another strong corn week.
HTS Commodities broker Lewis Williamson joins us to break down the latest USDA Crop Progress Report and how weather and global supply chain issues could influence planting conditions moving forward.
March crush data showed stronger soybean and canola processing, but softer animal fat production.
The goal is to start conversations and connect farmers with help when they need it.
Seasonal pricing strength is lining up with crop stress, giving wheat producers another weather-driven marketing window. Shaun Haney joins us to discuss concerns from ag bankers on farm profitability.
March brought better prices for several commodities, but rising fuel and feed costs kept margins under pressure.
