Today is a quiet day on the data front. In the euro area, focus is on March retail sales and German factory orders.
The Johnson Redbook Retail Sales Index was up 6.0% in the fourth and final week of April, following a 5.5% gain the prior week.
May 6th 2024
- Released May 6, 2024
May Corn closed 10 cents higher ($4.57), July 8 ¾ cents higher ($4.69) & Dec 5 ¾ cents higher ($4.88 ½)
- Summary
- Looking Ahead
Corn and wheat prices also up noticeably to start the week
Torrential rainfall in Brazil’s far southern state of Rio Grande do Sul state caused flooding and disruptions to the final stages of soybean and corn harvests.
The past week witnessed significant unease in the cattle markets at the Chicago Mercantile Exchange (CME), driven by fears of H5N1 avian influenza contamination in beef products.
June Lean Hogs opened unchanged at 99.925, which also was the high of the day as price broke down to a new low for the down move at 98.825.
Opening day of grain deliveries came in heavy; 1,151 contracts of wheat, 533 soybeans, 2,101 bean oil, and 222 bean meal.
Gold and silver prices are solidly higher in midday U.S. trading Monday amid improved trader/investor risk sentiment in the general marketplace.
U.S. stocks rose in early trading on Monday, as investors increased bets for a September interest rate cut by the Federal Reserve after a weaker-than-expected April jobs report.
Reuters’ Ana Mano and Roberto Samora reported this past Friday that “the outlook for the soybean harvest in Rio Grande do Sul, which was on track to become the second largest producer in Brazil behind Mato Grosso state, is deteriorating swiftly after torrential rains flooded fields, with about a quarter of beans to be reaped.”
- Copper
- Gold & Silver
- Stock Index Futures
- Currency Futures
- Interest Rate Market Futures
- Sugar - Cocoa - Coffee - Sugar
- Natural Gas
- Crude Oil
- Top Headlines
- Futures & Weather
- Today
- Morning Ag Outlook
Stocks rose Monday as Wall Street looked set to build on an end-of-week surge precipitated by a softer-than-expected jobs report that helped spur bets toward an earlier rate cut from the Federal Reserve.
After the sugar rush comes the crash.
Markets are bracing for USDA data updates this week that could provide more new-crop price direction
Cattle Fall on H5N1 News, Disregard Higher Cash: Grains Extend Rally on Weather
- Turnaround Tuesday On Monday
- Why Extended Choppy Price Action May Lie Ahead
- Wheat
- Rice
- Corn and Oats
- Economy - Planetary Limits - Bonds - Sentiment of traders - Markets - Swiss Market - Equities
- Cotton
- FCOJ
- Coffee
- Wheat - Corn - Soybeans and Soybean Meal - Rice - Palm Oil and Vegetable Oils - Cotton - Frozen Concentrated Orange Juice and Citrus - Coffee - Sugar - Cocoa
- The Fed And The Ballot Box
- Dollar Gains
- Is Hong Kong Losing Its Sheen?
For Week ending May 2, 2024
- A Real Cliff, Fake Smile
- Rate Cut Salvation?
- Here's My Take: Stop Caring, Because Either Way, We're Screwed...
- So, Why Wouldn't Powell Cut?
- The No-Cut Scenario
--Fed rate cuts have been delayed, not derailed
--Labor demand is gradually easing, with minimal damage
--S&P 500 earnings revisions have been supportive
We try not to react to just one data point because, as we have always said, “a data point doesn’t a trend make.”
- Price Matters
- Seasonal patterns in shares - should we "sell in May and go away"?
- Too fast & furious?
Currencies rally on Friday, and gold gains in the overnight markets
Gold & Silver begin the week on the right foot!
- Energies
- Metals
- Treasuries
Investors are beginning to say things that worry me. It’s been going on for the past year but feels like it’s becoming more pervasive.
Corn Bulls Hold on For Friday Gains.
- 2023/24 Budget Update and 2024/25 Budget Preview
Soybeans Close Just Off Friday Highs.
Wheat Rallies into Weekend.
U.S. equity markets rallied sharply on Friday resulting in the biggest one‐day gain in the S&P 500 in more than two months.
To view charts, once Daily Action Report is open, click on the download button in the upper right corner of article framework. Open downloaded file, charts should now be visible.
June gold (GCM4) Friday closed down -1.0 (-0.04%), and July silver (SIN24) closed down -0.139 (-0.52%).
- GBP/JPY Daily Outlook
Easing Geopolitical Risks in the Middle East Weigh on Crude.
Dollar Retreats as Weak US Reports Bolster Fed Rate Cut Hopes.