Ag Complex Sees Move Lower Amid Global Tensions
Cotton producers are advised to take advantage of the current rally and sell another 10% of their expected 2026 production, according to a recent report. The market is seeing a move lower across the ag complex, with cotton futures setting back from multi-year highs.
The corn futures market saw profit-taking pressure from shorter-term speculators today, but the bulls stepped in to buy the earlier dip in prices and push them well off daily lows. A sharp drop in the US dollar index and firmer crude oil prices were also bullish outside-market elements for corn futures.
The soybean and meal futures markets saw modest early selling pressure, but the bulls stepped in to buy the dips and do some perceived bargain hunting. The USDA reported daily sales of 192,000 MT of US soybeans to China during the 2026-27 marketing year.
The winter wheat futures markets saw profit taking and weak long liquidation following news that Russian President Vladimir Putin cited the possibility of a peace deal with Ukraine.