Soybeans Rally, Corn, Wheat Also Up

grains recap
grains recap
(Commodity Update)

Corn: December corn futures rose 6 1/4 cents to $6.97 3/4, the contract’s highest closing price since Oct. 13. Corn rebounded from overnight weakness behind easing harvest pressure and spillover support from gains in soybeans and wheat. The uncertain status of a deal allowing grain shipments from Ukraine’s Black Sea ports continued to underpin futures.

Soybeans: January soybeans surged 28 1/4 cents to $14.47 3/4, the highest close since Sept. 22. December soyoil gained 16 points to 73.37 cents. December soymeal slid $3.30 to $424.80. Soybeans climbed near six-week highs as election-related protests in Brazil stirred concern over supply disruptions.

Wheat: December SRW wheat rose 20 1/4 cents to $9.02 1/2, the contract’s highest close since Oct. 10. December HRW wheat rose 11 1/4 cents to $9.90. December spring wheat rose 8 1/2 cents to $9.89 3/4. Winter wheat ended at the highest levels in three weeks amid concern over Ukrainian grain shipments and sharply lower than expected USDA crop ratings.

Cattle: December live cattle fell 52.5 cents to $151.95, the contract’s lowest close since Oct. 20. January feeder cattle fell $1.25 to $178.20. Live cattle settled near a two-week low on mild profit-taking pressure, thought cash fundamentals remain solid. Choice beef cutout values fell $1.02 to $262.63, down from a two-month high Monday. Movement totaled 132 loads.

Hogs: December lean hogs rose 27.5 cents to $85.20. Hog futures ended mixed as recent softening in cash fundamentals tempered buying interest. The CME lean hog index rose 2 cents to $93.79, the first gain in four days. Wednesday’s index is expected to fall 4 cents. Pork cutout values fell $2.73 to a nine-month low of $97.21, as all cuts with the exception of bellies eased.

 

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.