Agweek Market Wrap

Continued wet weather is delaying harvest and raising quality concerns in the region, tightening soybean supplies and pushing meal prices sharply higher, according to Randy Martinson of Martinson Ag Risk Management.

FM-area producers face a rare August shift: grain commodities at three-year highs while feeder cattle prices are down about $68 since the height in May, with regional drought and global supply factors driving both moves.

Drought in North Dakota and Minnesota, Ukraine export disruptions, and Tyson closing or selling three plants are shifting grain and livestock market conditions directly relevant to FM-area producers.

Expanded drought in the upper Midwest, the Aug. 12 USDA Crop Production report, and China's soybean purchases are among factors directly affecting grain markets relevant to FM-area producers.

Randy Martinson of Martinson Ag Risk Management notes July was a good month for grain markets overall, with North Dakota wheat yields and Black Sea export disruptions among key factors FM agricultural businesses are watching.

With North Dakota crops in critical development stages and wheat market gyrations tied to Ukraine-Russia shipping talks and new tariffs, FM-area agricultural businesses face volatile input costs and uncertain commodity prices.

FM-area grain and cattle producers face market swings tied to China's unexpected early soybean buying, Russia port disruption affecting wheat exports, and heat forecasts heading into crop pollination, per Martinson Ag Risk Management.