Soybeans Surge (5/26)

grain market recap
grain market recap
(Commodity Update)

Corn: July corn futures fell 7 1/4 cents to $7.65, the contract’s lowest closing price since $7.58 3/4 on April 11. December corn fell 4 1/2 cents to $7.18 3/4, the lowest close in over two weeks. Nearby corn futures were pressured by lackluster export sales and an outlook for favorable crop weather in the Midwest.

Soybeans: July soybeans surged 45 1/2 cents to $17.26 1/2, a lifetime-high close for the contract. November soybeans rose 32 cents to $15.44 3/4. July soymeal gained $4.00 to $428.20 and July soyoil rose 160 points to 80.52 cents. Soybean futures erased overnight declines and rallied behind expectations that wet conditions for the northern Midwest will further delay spring planting.

Wheat: July SRW wheat fell 5 cents to $11.43 1/4. July HRW wheat fell 4 3/4 cents to $12.28 1/2. July spring wheat futures jumped 11 3/4 cents to $12.92 1/4. Winter wheat fell for the fifth day in six amid pressure from weak technicals and expectations crops in the U.S. Plains will benefit from recent rains.

Cattle: August live cattle rose 7.5 cents to $132.60. August feeders fell $1.275 to $166.675. Live cattle futures posted modest gains despite further signs of weakness in cash prices. USDA-reported live steers averaged $139.82 this week through this morning, down about 43 cents from last week’s average.

Hogs: July lean hogs rose $3.875 to $111.825, the contract’s highest closing price since $114.60 on April 28. Hog futures extended the recent rally and closed at four-week highs on a strengthening cash market and bullish chart signals. The CME lean hog index rose 84 cents to $103.87 (as of May 24), the sixth daily gain in a row and the highest since last August.


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 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 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)

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.