Soybean Futures End at Three-Week High

grains recap
grains recap
(Commodity Update)

Corn: March corn futures fell 1 3/4 cents to $6.69 1/2, after rising earlier to the highest level in over a week. Corn faded from earlier gains amid weakness in wheat prices, strength in the U.S. dollar and sluggish exports.

Soybeans: January soybeans rose 2 1/4 cents to $14.59 1/2, the contract’s highest close since Nov. 4. January soymeal fell $4.10 to $407.60. January soyoil fell 14 points to 72.98 cents. Nearby soybeans rose amid demand optimism and easing concerns over Covid lockdown protests in China.

Wheat: March SRW wheat futures rose 3/4 cent to $7.81 1/2. March HRW wheat fell 8 cents to $9.01. March spring wheat tumbled 11 cents to $9.40 1/4. SRW futures posted modest gains amid easing concerns over China. USDA late today reported 34% of the U.S. winter wheat crop was in either "good" or "excellent" condition as of last Sunday, up from 32% a week earlier and about one percentage point above analysts' expectations.

Cattle: February live cattle rose 12.5 cents to $154.80. January feeder cattle gained $1.125 to $178.00. Live cattle futures rose amid support from cash prices that are expected to extend a nearly two-month upswing driven in part by ramped-up slaughter.

Hogs: February lean hogs fell 60 cents to $84.15, the contract’s lowest close since Oct. 14. Hog futures extended the past week’s steep declines amid anticipation of seasonal cash weakness at least through mid-December and possibly for the balance of the year.

 

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.