Soybeans Drop Near Two-Week Low

grains recap
grains recap
(Commodity Update)

Corn: December corn fell 6 3/4 cents to $6.70 1/2, around the mid-point of today’s range. Corn futures fell for the second consecutive session on pressure from weakness in outside markets, as crude oil dropped under $90 per barrel amid escalating concern over global recession.

Soybeans: November soybeans fell 9 3/4 cents to $14.27 3/4, the contract’s lowest closing price since Aug. 19. October soymeal fell $9.10 to $420.70, while October soyoil rose 121 points to 68.90 cents. Soybeans ended near a two-week low amid expectations for a record U.S. crop and weakness in crude oil.

Wheat: December SRW wheat rose 11 1/4 cents to $8.31 1/2 and December HRW wheat gained 14 3/4 cents to $9.12 1/2, both near session highs. Spring wheat futures rose 9 cents to $9.29 1/2. Wheat futures rallied in a corrective bounce from Tuesday’s losses as traders shrugged off weakness in corn, soybean and crude oil markets.

Cattle: October live cattle tumbled $1.25 to $142.575, the contract’s lowest closing price since Aug. 2, while September feeder futures rose 27.5 cents to $182.45. Cattle futures fell as the wholesale beef market extended a slump and growing economic pessimism overshadowed signs of cash strength.

Hogs: October lean hogs fell $2.075 to $91.525. Hog futures fell on pressure from corrective selling following sharp gains the previous two sessions and a slump in the cash market. The CME lean hog index extended its slide, dropping $1.90 to $109.36, the lowest since June 17, is expected to fall another $1.74 Thursday.

 

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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.