Corn, Soybean Futures Rebound

grains recap
grains recap
(Commodity Update)

Corn: December corn futures rose 6 1/2 cents to $5.85, after earlier dropping to a five-month low of $5.66 1/2. Corn ended higher for the first time in five sessions as late corrective buying emerged after prices fell initially on expectations rain across the Corn Belt this week will alleviate dry conditions with pollination starting soon.

Soybeans: November soybeans rose 6 3/4 cents to $13.22 3/4, after earlier falling to $13.02 1/2, the contract’s lowest intraday price since $13.00 3/4 on Jan. 25. August soyoil fell 106 points to 58.56 cents. August soymeal rose $5.20 to $415.60. Soybeans joined corn and ended higher behind corrective buying following steep losses the past few sessions.

Wheat: September SRW wheat fell 2 1/2 cents to $8.04 1/2, the contract’s lowest closing price since Feb. 18. September HRW wheat fell 10 1/2 cents to $8.51 1/2, a 4 1/2-month closing low. September spring wheat fell 3 3/4 cents to $8.86 1/4. Nearby winter wheat futures fell for the fifth straight session under continued pressure from chart-driven fund selling and the accelerating U.S. harvest.

Cattle: August live cattle rose $1.575 to $134.50. August feeder cattle rose 60 cents to $173.30. Cattle futures rose amid strengthening cash fundamentals and relatively tight supplies of market-ready animals. Choice beef rose $3.58 early today to $268.24.

Hogs: August lean hog futures surged $3.25 to $109.20, a two-week closing high. Hog futures extended Tuesday’s rally as traders shrugged off continued erosion in cash benchmarks. Futures’ gains this week suggest traders anticipate the cash market will strengthen over the short-term.

 

Latest News

Grains Try to Recover Midday with Reversal in Outside Markets:  Live Cattle Mixed with Bullish Cattle Inventory Expectations
Grains Try to Recover Midday with Reversal in Outside Markets: Live Cattle Mixed with Bullish Cattle Inventory Expectations

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

Grains higher early with technical buying and a drier Argentina weather concerns. Cattle higher with $1 higher cash on Friday. Hogs back lower.  Michelle Rook has a quick update.  

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.