Corrective Bounce Continues

grains recap
grains recap
(Commodity Update)

Corn: December corn futures rose 11 1/4 cents to $5.96 1/4, after earlier rising as high as $6.08 3/4. Corn futures rose a second day as corrective buying and short-covering drove a rebound from five-months lows earlier this week. Traders may also be restoring some weather premium into prices amid forecasts for drier weather in the Midwest during mid-July.

Soybeans: November soybeans rallied 42 3/4 cents to $13.65 1/2. August soyoil soared 306 points to 61.62 cents per pound. August soymeal surged $7.90 to $423.50 per ton. The soy complex was supported by strength in crude oil and U.S. stocks, which suggested easing recession concerns.

Wheat: September SRW wheat rose 32 cents to $8.36 1/2. September HRW wheat rose 37 3/4 cents to $8.89 1/4. September spring wheat rose 48 1/4 cents to $9.34 1/2. Wheat futures rose on short covering and corrective buying after prices hit four-month lows earlier this week.

Cattle: August live cattle rose 5 cents to $134.55. August feeder cattle fell $1.025 to $176.05. Live cattle futures rose a second consecutive day, supported by signs of easing recession concerns, expectations for steady to firmer cash cattle prices and continued strength in wholesale beef.

Hogs: August lean hogs rose 30 cents at $109.50, the highest close since June 21. Nearby hogs extended sharp gains the previous two sessions as technical strength and easing concern over pork demand outweighed weakness in cash benchmarks.


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 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 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)

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

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

Today's closing prices and market recaps.

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.