Tough Day for Grain Prices

market recap
market recap
(Commodity Update)

Corn: July corn futures fell 19 1/4 cents to $7.81 1/2, while December futures fell 20 1/2 cents to $7.40 1/4. Corn futures fell sharply as spillover from a selloff in the wheat market and prospects for a resumption of grain shipments out of Ukraine sparked active profit-taking. Recession concerns also burdened commodity markets. 

Soybeans: July soybeans fell 15 1/4 cents to $16.62 3/4. July soybean meal rose $2.20 to $414.00. July soyoil fell 294 points to 80.55 cents. Soybean futures took spillover pressure from sharp losses in grain and crude oil markets, overshadowing fresh export business reported by USDA.

Wheat: July SRW wheat fell 46 3/4 cents to $12.30 3/4. July HRW wheat fell 43 1/4 cents to $13.24 1/2. July spring wheat fell 40 3/4 cents to $13.52 3/4. Heavy profit taking burdened wheat futures following the market’s rally to contract highs Tuesday. Selling pressure was also tied to reports grain shipments from Ukraine may resume contributed to selling pressure and prospects for larger production in Russia.

Cattle: June live cattle fell $1.50 to $131.50, the contract’s lowest closing price since Oct. 22, while August feeder futures dropped 97.5 cents to $165.80. Nearby live cattle hit a seven-month low on broader commodity weakness and concern a potential recession would hurt beef demand. Softer cash prices also weighed on futures.

Hogs: June lean hogs rose 95 cents to $106.10, the highest close since May 5. June lean hogs rose a the fourth consecutive day as the market extended a corrective recovery from last week’s tumble to four-month lows. Pork cutout values rose $3.07 early today to $105.18, near a two-week high.


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.