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.


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Today's Market Recap (1.20.23)

Market recaps for corn, soybeans, wheat, cattle & hogs.

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

Today's closing prices and market recaps.

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.