Grain, Soybean Futures End Firm

grains recap
grains recap
(Commodity Update)

Corn: December corn rose 3 cents to $6.70 1/2, after dropping earlier to a three-week low at $6.61 1/2. Corn futures followed wheat higher as the U.S. dollar pulled back and crude oil broke above $80 a barrel.

Soybeans: November soybeans rose 3/4 cent to $14.08 3/4, after earlier dropping to a three-week low at $13.90 3/4. December soymeal fell 90 cents to $412.70. December soyoil fell 24 points to 62.15 cents. Soybean futures rose for the first time in six sessions with support from sharp gains in the crude oil market and gains in corn and wheat.

Wheat: December SRW wheat rose 31 3/4 cents to $9.03 1/4. December HRW wheat gained 32 3/4 cents to $9.76. December spring wheat futures rose 29 1/4 cents to $9.72 1/2. Wheat markets were supported by ongoing worries over grain shipments from the Black Sea region.

Cotton: December cotton futures rose 40 points at 88.49 cents, after hitting a nine-week low earlier. Cotton was lifted modestly by worries Hurricane Ian could damage the southeastern U.S. cotton crop.

Cattle: December live cattle fell 62.5 cents to $146.275, the contract’s lowest closing price since July 18. November feeder futures sank $1.125 to $175.00. Reports of weaker cash trading pressured futures. USDA reported sizeable numbers of steers changing hands Tuesday at $143.38, down from last week’s $144.94 live steer average.

Hogs: December lean hog futures fell 42.5 cents to $75.825, the contract’s lowest closing price since December 20. Lean hog futures extended the past week’s nosedive, dropping for the sixth consecutive session on eroding cash fundamentals and technical-based selling trigged by a chart collapse. The CME lean hog index is down 58 cents to $96.41, its fifth drop in the last six days.

 

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.