Corn, Soybean Futures Fall Again

grains recap
grains recap
(Commodity Update)

Corn: December futures fell 10 1/2 cents to $6.82 1/4. Corn futures fell a second day amid looming harvest pressure and concern over a potential rail shutdown as early as Friday. Some U.S. railroads will start halting grain shipments Thursday, a day ahead of a potential work stoppage, Reuters reported.

Soybeans: November soybeans fell 23 2/3 cents to $14.55. December soymeal fell 70 cents to $423.10, while December soyoil fell 186 points to 64.87 cents. Soybean futures fell a second straight day as the market extended a profit-taking pullback from a climb to 2 1/2-month highs earlier this week.

Wheat: December SRW wheat rose 11 3/4 cents to $8.72 1/4 and December HRW wheat gained 13 1/4 cents to $9.47, both two-month closing highs. December spring wheat rose 6 3/4 cents to $9.38. Winter wheat rose to two-month highs behind weakness in the U.S. dollar, persistent dryness in the U.S. Plains and concern over potential disruptions from a U.S. rail strike.

Cattle: October live cattle fell 45 cents to $144.35. October feeders rose 90 cents to $181.425. Live cattle fell as wholesale beef extended a slump. Choice boxed beef fell $2.46 early today to $254.20, the lowest price since mid-March.

Hogs: October lean hogs fell $1.05 to $94.70, down from a four-week-high close Tuesday. October lean hogs led declines in futures after the market generated little followthrough buying interest from Tuesday’s rally. Slumping cash fundamentals continued to hang over the market.

 

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Grains Try to Recover Midday with Reversal in Outside Markets:  Live Cattle Mixed with Bullish Cattle Inventory Expectations
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Grains try to recover midday with help from the reversal in outside markets. LC mixed with bullish hopes for the USDA Cattle Inventory Report.  Hogs lower. Scott Varilek of Kooima Kooima Varilek has details.  

Grains Start Higher on Weather Concerns in Argentina and HRW Areas, Then Corn Fails: Cattle Higher with $1 Better Southern Cash Friday
Grains Start Higher on Weather Concerns in Argentina and HRW Areas, Then Corn Fails: Cattle Higher with $1 Better Southern Cash Friday

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Today's Market Recap (1.20.23)
Today's Market Recap (1.20.23)

Market recaps for corn, soybeans, wheat, cattle & hogs.

Improving Argentine Weather Forecasts Weigh on Grain, Soy
Improving Argentine Weather Forecasts Weigh on Grain, Soy

Forecasts of improving weather in Argentina over the next two weeks weighed on the grain and soy complex.

Corn, Soybeans & Wheat Prices Fall; Cattle Mixed
Corn, Soybeans & Wheat Prices Fall; Cattle Mixed

Today's closing prices and market recaps.

Morning Calls & Comments (1.13.23)
Morning Calls & Comments (1.13.23)

Soybeans faced light profit-taking pressure at the end of the overnight session, which is likely to spill over into the start of daytime trade.