Soybeans Tumble Near Two-Week Lows

grains recap
grains recap
(Commodity Update)

Corn: December corn dropped 18 cents to $6.10 1/4, the lowest close since Aug. 8. Corn fell on a generally favorable Midwest weather outlook and declines in crude oil. Recent weakness in Chinese economic readings and accelerating grain shipments out of Ukraine fueled bearish momentum in grains.

Soybeans: November soybeans fell 31 cents to $13.88, the contract’s lowest closing price since Aug. 3. September soymeal fell $16.30 to $435.90. September soyoil fell 110 points to 67.84 cents. Soybeans extended Monday’s sharp declines on expectations a mostly favorable weather outlook for the Midwest will boost yield prospects.

Wheat: September SRW wheat fell 14 3/4 cents to $7.86. September HRW wheat fell 11 cents to $8.71 3/4. September spring wheat futures fell 8 cents to $9.02 3/4. Wheat futures continued to follow the lead of outside markets, as corn and soybean markets fell and crude oil tumbled.

Cattle: October live cattle rose $1.875 to $145.675, the contract’s highest closing price since April 22. September feeder cattle rose $2.475 to $185.475. Live cattle futures surged to a 3 1/2-month high behind bullish technicals and optimism the cash market will extend recent gains.

Hogs: October lean hogs plunged the $4.00 daily limit to $96.575, the lowest close since Aug. 3. Hogs fell sharply amid signs of a peak in cash fundamentals and anticipation of a typical seasonal downturn later this month. Tomorrow’s CME lean hog index is expected to fall 65 cents to $121.06, the fourth decline in the past five days.


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.