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MARKETS

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South Dakota cattle feeder Steve Masat of Redfield, South Dakota, and Rick Woehlhaff, owner of the Glacial Lakes Livestock in Watertown, South Dakota, reflect on market trends and feed supplies for cattle heading into the fall and winter.
Amid escalation of war and ongoing tensions between Russia and Ukraine, the wheat market took off this week, Randy Martinson of Martinson Ag Risk Management told Carah Hart of Red River Farm Network on the Agweek Market Wrap.
Speculation of escalating war between Russia and Ukraine and Russia not allowing further exports out of Ukraine at the end of the month played a roll in the markets this week, as did early harvest results.
On this week's Agweek Market Wrap, Randy Martinson of Martinson Ag Risk Management and Randy Koenen discuss the market volatility brought on by WASDE's bullish soybean numbers, poor corn exports in the first export report in months, concerns about the economy and the fact that everyone is waiting to see harvest results.
USDA’s September Crop Production report took the market by surprise. Everyone was looking one direction while USDA took us in the opposite direction, which resulted in Monday’s market action. To sum up the report in a few words: uneventful and neutral wheat, friendly and as expected for corn, and bullish and surprising for soybeans.
U.S. corn and soybean supplies will fall to multi-year lows as hot and dry weather during August in western growing areas cut into the harvest potential for both crops, the government said on Monday.

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Commodity markets ended the week 'on a bang,' Don Wick said on the Agweek Market Wrap. Randy Martinson of Martinson Ag Risk Management said a combination of factors came into play, including Russian President Vladimir Putin indicating he would not support extending the deal to allow exports out of Ukraine, a sharply lower U.S. dollar, and the expectation that the USDA's export reporting system will be back up next week and will show strong smaller sales.
The Sept. 6 session had corn as the main driver, posting solid gains on production concerns and expectations for increased demand. Wheat was a follower to corn, but Minneapolis wheat faded its gains due to harvest pressure. Soybeans were under pressure throughout the session due to expectations for record production.
Here are some of the issues that have emerged regarding the deal to allow Ukraine to ship grains in the midst of Russian's invasion of the country.

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