StoneX Commodities released an 80-page report recently providing insights in how they see markets performing in the third quarter. StoneX third quarter outlook shows corn and soybean prices remaining under pressure, especially later in the quarter with ample supplies heading into harvest.
Wheat, they say, can be firm to a bit higher amid tight supplies here and also in Europe. Bottom line analysts say corn and soybean prices likely will not be at these levels entering the fourth quarter. The summary also shows cattle, and hog prices may move in opposite directions.
Tighter cattle numbers here and worldwide, while pork production should see a modest increase led by China’s dominant output. This is the bottom-line report. StoneX says fertilizer prices and supplies should improve but very slowly in the third quarter, but continue into the new year ahead of the 27 growing season.
Audio Reporting by Mark Oppold for Southeast AgNet.