Soybean Futures Sink to 2 1/2 mo. Low

grains recap
grains recap
(Commodity Update)

Corn: December corn fell 8 1/2 cents to $6.75 1/2, the contract’s lowest close since Sept. 29. Corn closed at a low for the week as generally favorable Midwest weather fuels harvest pressure and a dollar near 20-year highs raised concern demand for commodities may be pinched.

Soybeans: November soybeans fell 11 3/4 cents to $13.58, the contract’s lowest close since July 25. December soymeal fell $5.10 to $393.40, the lowest close since July 22. December soyoil rose 48 points to 66.02 cents. Soybean futures sank to a 2 1/2-month low on increasing U.S. harvest pressure, uninspiring export demand and slumping soymeal.

Wheat: December SRW wheat fell 23 cents to $8.79, the contract’s lowest closing price since Sept. 27. December HRW wheat dropped 25 1/4 cents to $9.65. December spring wheat fell 19 cents to $9.62 1/2. Winter wheat futures fell a fourth straight session on pressure from a strong dollar and soft export numbers, as well as general risk aversion in global markets.

Cattle: December live cattle fell 5 cents to $147.875. November feeders fell 90 cents to $176.425. Nearby October live cattle firmed amid reports packers in southern markets paid $144.00 today, while those in northern markets paid $145.00 to $146.00, prices steady to firmer from last week.

Hogs: December lean hogs rose $1.275 to $77.775, the contract’s highest close since Sept. 26. Hog futures gapped higher at today’s open and sustained gains as the market extended a sharp rebound from the recent slump to 10-month lows.

 

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.