Corn Falls to 33-Month Lows: Is The US Farmer Undersold??

Joe's Premium Subscription: www.standardgrain.comGrain Markets and Other Stuff Links-Apple PodcastsSpotifyGoogleTikTokYouTube#agriculture #farming 0:00 Intro0:27 Corn and Wheat Selloff1:14 The Farmer is Undersold3:48 Fund Positioning4:42 Brazil Update5:59 Export Inspections6:57 Biden Supply Chain Council8:07 Cattle Collapse🌾 Market Snapshot: Corn & Wheat Hit Lows, Cattle Futures Drop 📉🌽🐄📊 Corn & Wheat Decline:US corn and wheat futures hit fresh lows on Monday, with Dec23 contracts reaching $4.54/bushel and $5.88/bushel, respectively. Speculative selling, lack of a bullish catalyst, and December basis contracts contributed to the selloff.📈 Money Managers Go Bearish:Large money managers increased their net short position in corn, selling 27k contracts. Soybeans and SRW wheat also saw bearish trends, as highlighted in the Fund Tracker charts.🇧🇷 Brazil's Soybean Planting Slowdown:Brazil's 2023/2024 soybean planting is the slowest in eight years, with only 74% completed. Adverse weather conditions are impacting regions differently, affecting both soybean and corn planting.🚢 US Soybean Shipments Dip:Soybean shipments declined by 12% (1.4mmt) compared to the previous week. Corn and wheat shipments also experienced decreases, impacting export dynamics.🌐 Biden Addresses Supply Chains:President Biden announced a new White House Council on Supply Chain Resilience to tackle issues contributing to inflation. The first report is due by the end of 2024.🐮 Cattle Futures in Retreat:Cattle futures, especially feeder cattle, hit lows not seen in months, driven by fund selling and panic short hedging. Despite challenges, the overall cattle market outlook remains bullish.📈 Stay updated on market dynamics! #Commodities #MarketUpdate #Agriculture #CattleMarket 🌍📊