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Markets

The first week of August started out low for the markets but rebounded by Friday, Randy Martinson of Martinson Ag Risk Management and Carah Hart of Red River Farm Network discussed on this week's Agweek Market Wrap. They talked changing weather forecasts, Ukraine grain shipments, U.S. export sales, yield potentials and more.
There was a combination of items that helped give the grains strength to close out the month of July. Early strength was due to weather forecasts calling for extreme heat for the Corn Belt for the first half of August. Concerns about grain movement out of Ukraine added strength.
Weather is a key in the short term, said speakers at the Ag Outlook forum at the 2022 Farmfest near Morgan, Minnesota.
Tyson Foods Inc., one of the largest U.S. meat producers, is refusing to comply with a subpoena for a civil probe into possible price gouging during the COVID-19 pandemic, New York's attorney general said on Wednesday, Aug. 3.

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Romania's wheat harvest is large enough to cover its domestic needs and ensure a surplus for exports, Agriculture Minister Petre Daea said on Wednesday, Aug. 3, with 96% of the crop reaped so far.
Kent Beadle, director of producer brokerage, CHS Hedging, addressed the invasion of Ukraine and other market disruptors during a talk on Tuesday, Aug. 2, the opening day of the 2022 Farmfest gathering in Morgan, Minnesota.
Randy Martinson of Martinson Ag Risk Management talk about the volatility in the market caused by hot temperatures, international stories, the economy and more on this week's Agweek Market Wrap, sponsored by Gateway Building Systems.
Before the ink could dry on an agreement to allow grain shipments out of Ukraine, Russia attacked the port of Odessa. And around the same time, forecasts called for hot, dry conditions for the northern Plains and western Corn Belt.
On this week's Agweek Market Wrap, Don Wick of the Red River Farm Network and Randy Martinson of Martinson Ag Risk Managent discuss the impact of the Ukraine-Russia deal regarding grain transportation on the wheat market, as well as what continued heat means for crops in the U.S.
Even though weather continues to be the biggest influencer on the grains, July 13 Consumer Price Index announcement caused a bit of a stir. The report put inflations at 9.1% versus expectations of 8.8%. The significance of inflation at 9.1%, the highest in over 41 years, is that it will give the Federal Reserve the ammo it needs to increase interest rates another 0.75% or possibly 1%, which would send the market into a tailspin.

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Favorable weather forecasts hinted at recovery for commodity markets, but the July World Agricultural Supply and Demand Estimates report and macroeconomic concerns cut that down, said Randy Koenen of the Red River Farm Network and Randy Martinson of Martinson Ag Risk Management.
The biggest change in USDA's crop production report came in North Dakota where the average winter wheat yield increased 11 bushels per acre from June’s estimate to a new all-time record yield of 58 bushels.
Ukraine's Black Sea ports have been blockaded since Russia invaded on Feb. 24, sending global prices of grains and sunflower oil soaring.

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