Soybean Futures Post Third Weekly Gain

grains recap
grains recap
(Commodity Update)

Corn: December corn futures rose 1/4 cent to $6.84 1/4, a decline of 13 1/2 cents for the week. Corn futures erased overnight declines to post modest gains in nearby contracts with support from a pullback in the U.S. dollar and strength in U.S. equities.

Soybeans: November soybeans rose 4 cents to $13.95 1/2, the highest close since Oct. 13 and up 11 3/4 cents for the week. December soymeal rose $4.60 to $417.90. December soyoil rose 108 points to 71.50 cents, a four-month closing high. Soybeans rebounded from overnight declines to end firm, supported by a recent upturn in export demand, with China making several purchases over the past two weeks.

Wheat: December SRW wheat rose 1 1/2 cents to $8.50 3/4, down 9 cents for the week. December HRW futures fell 1 1/2 cents to $9.48 1/4, down 4 cents for the week. December spring wheat slipped 1 cent to $9.61 1/2. Wheat futures remained under pressure from weak technicals and a strong dollar.

Cattle: October live cattle gained 70 cents to $150.475, the highest close for a nearby contract since August 2015. December live cattle rose 75 cents to $152.425, a lifetime-high close for the contract. November feeder cattle rose 80 cents to $178.35, up $3.575 for the week. Continued cash strength drove futures higher. USDA’s Cattle on Feed Report today was considered largely price neutral.

Hogs: December lean hogs rose $2.10 to $89.125, the contract’s highest close since Aug. 15 and a weekly gain of $6.875. Hogs extended a steep rally behind bullish technicals and firming cash. Today’s CME lean hog index was $93.76 and the benchmark is expected to rise another 29 cents Monday.

 

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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.