Risk Aversion in Commodities Persists

grains recap
grains recap
(Commodity Update)

Corn: March corn fell 1 cent to $6.52 3/4, a mid-range close after trading the lowest level since Dec. 20. Corn traded lower for the fifth straight session after firming slightly overnight on spillover weakness in the soy complex and persisting demand concerns.

Soybeans: March soybean fell 12 3/4 cents at $14.70 3/4 and nearer the session low. March soybean meal rose $2.20 at $464.90 and nearer the session high. March bean oil dropped 43 points at 62.42 cents and nearer the session low. Soybean futures again fell victim to speculator weak long liquidation and profit taking this first trading week of the new year.

Wheat: March SRW rose 1 1/4 cent to $7.46 3/4, a mid-range close after reaching the lowest level since Dec. 9. March HRW fell 1 cent to $8.39 3/4, while March spring wheat rose 5 1/2 to $9.09. SRW wheat futures dropped to their lowest level in nearly 4 weeks early in the session as demand concerns loom.

Cattle: Nearby February live cattle futures ended Thursday up 7.5 cents to $157.35, whereas March feeder futures tumbled $1.675 to $186.55. The cash cattle situation still seems quite supportive, as indicated by this week’s usual light early trading, at $158.04.

Hogs: Hog futures remained weak Thursday; the nearby February contract led the way lower with a $1.55 drop to $82.525. The CME lean hog index continues indicating cash market weakness.

 

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.