Grains & Livestock Tumble

grains recap
grains recap
(Commodity Update)

Corn: July corn futures sank 23 3/4 cents to $7.53 1/2, the contract’s lowest closing price since April 4. December corn futures fell 18 1/2 cents to $7.11 1/2, a three-week low. Corn futures tumbled on spillover pressure from sharp declines in wheat and expectations for further planting progress. 

Soybeans: July soybeans tumbled 49 cents to $16.83 1/4 after posting a contract high overnight. November soybeans fell 34 1/2 cents to $15.09 1/2. July soymeal fell $17.50 to $414.80, while July soyoil dropped 165 points to 77.92 cents, near a seven-week low. The soy complex fell in sympathy with a steep selloff across agricultural markets. 

Wheat: July SRW wheat plunged the 70-cent daily trading limit to $10.87 1/2, the lowest close since May 4. July HRW wheat fell 69 3/4 cents to $11.65 1/2. July spring wheat fell 57 1/4 cents to $12.47 1/2. Winter wheat futures sank following reports Russia may allow grain shipments from Ukraine. 

CattleAugust live cattle fell $2.025 to $130.375 and August feeders fell $1.20 to $165.125. Cattle futures took pressure from a broad sell-off across agricultural commodities, along with concern over beef demand and expectations for continued cash market weakness.

Hogs: July lean hog futures plunged $3.725 to $108.00, while August futures fell $4.025 to $106.425. Hogs fell under heavy profit-taking following last week’s rise to four-week highs. 

 

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.