Corn, Soybeans Finish the Week Down, Soybeans Up

afternoon recap
afternoon recap
(Commodity Update)

Corn: July corn futures fell 4 1/2 cents to $7.78 3/4, down 2 1/2 cents for the week and the contract’s lowest close since May 10. December corn fell 4 cents to $7.32, down 33 1/2 cents for the week. Nearby corn futures fell for a third consecutive week on spillover from a continued slump in the wheat market and expectations for improved U.S. planting progress.

Soybeans: July soybeans rose 14 3/4 cents to $17.05 1/4, up 58 3/4 cents for the week and the contract’s highest close since April 21. November soybeans rose 7 1/4 cents to $15.21 3/4, up 23 1/2 cents for the week. July soymeal gained $4.60 to $429.90 and July soyoil rose 140 points to 80.93 cents. Nearby soybean futures extended a nearly two-week rally to four-week highs behind bullish demand fundamentals, including stronger-than-expected exports.

Wheat: July SRW wheat fell 31 3/4 cents to $11.68 3/4, down 8 3/4 cents for the week. July HRW wheat fell 42 1/2 cents to $12.52 3/4, down 29 1/4 cents for the week. July spring wheat fell 51 1/2 cents to $12.79. Wheat futures plunged on heavy, technically-driven fund selling over the past three days, with further pressure stemming from moisture relief expected in the U.S. Plains.

Cattle: June live cattle rose 7.5 cents to $131.575, down 50 cents for the week. August feeder futures fell $1.275 to $163.925, down $4.10 for the week. Live cattle were pressured by softer cash prices this week and may drop further early next week following today’s bearish USDA Cattle on Feed Report.

Hogs: June lean hog futures rose $3.575 to $108.875, the contract’s highest closing price since April 28. July lean hogs rose $2.025 to $109.00, up $7.80 for the week. Sharp gains this week have solidified beliefs the hog market has established a near-term bottom and begun a seasonal rally.

 

Latest News

After the bell test

test

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.