Grain, Soybean Futures End Firmer

grains recap
grains recap
(Commodity Update)

Corn: December corn gained 1/2 cents to $6.66 3/4, after dropping earlier to a 2 1/2-month low at $6.51 1/4. Corn erased overnight declines and rallied following reports Russian missiles crossed into Poland, killing two people. The strikes stirred concern a potential extension of a Ukraine grain export deal was in jeopardy as the agreement’s Nov. 19 expiration nears.

Soybeans: January soybeans rose 16 3/4 cents to $14.57 1/4, the contract’s highest close since Nov. 4. December soymeal rose $3.90 to $409.90. December soyoil rose 70 cents to 76.98 cents. Soybeans climbed on demand optimism. Earlier today, the National Oilseed Processors Association (NOPA) reported soybean crushing totaled 184.464 million bu. during October, up 17% from September and up 0.3% from October 2021.

Wheat: December SRW wheat rose 9 3/4 cents to $8.28 1/4, the contract’s highest close since Nov. 7. December HRW wheat rose 6 3/4 cents to $9.63, the highest since Nov. 1. December spring wheat rose 11 cents to $9.74. Wheat recovered from earlier declines after reports of Russian missiles striking Poland stoked renewed concern over disruption to global grain supplies.

Cattle: December live cattle fell 30 cents to $151.275, the contract’s lowest close since Oct. 18. January feeder cattle fell $2.425 to $177.025, a four-week low today. Nearby cattle ended at a four-week low as traders waiting for confirmation whether recent cash market strength will continue this week.

Hogs: December lean hogs rose 45 cents to $85.3250, the contract’s highest close since Nov. 8. Hogs rebounded from recent sessions’ weakness but cash fundamentals remained soft. Wednesday’s preliminary CME lean hog index is expected to fall 16 cents to $88.49, the lowest since Feb. 9.

 

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.