Weekly Market Recap (6/17)

grains recap
grains recap
(Commodity Update)

Corn: July corn dropped 3 3/4 cents to $7.84 1/2 after touching $8.00 overnight. December corn fell 4 cents to $7.31. For the week, July corn firmed 11 1/4 cents and the December contract rallied 10 1/2 cents. Midwest weather will be key to next week’s market direction following the three-day holiday weekend, with crop-stressing extreme heat expect to persist.

Soybeans: July soybeans fell 7 1/2 cents to $17.02, down 43 1/2 cents for the week, while November soybeans fell 5 3/4 cents to $15.37 1/2. July soymeal rose $8.40 to $438.10, while July soyoil fell 255 points to 73.79 cents. Soybean futures tumbled to end the week as spillover from sharp declines in soyoil overshadowed Midwest weather.

Wheat: July SRW wheat fell 44 cents to $10.34 1/4, down 36 1/2cents for the week and the lowest closing price since April 7. July HRW wheat fell 43 1/2 cents to $11.05 and July spring wheat tumbled 39 1/2 cents to $11.69 1/2. Winter wheat futures sank to the lowest levels in over two months amid U.S. dollar strength and increasing pressure from the U.S. Plains harvest.

Cattle: August live cattle gained 27.5 cents to $136.575, up 37.5 cents for the week. August feeders rose $1.65 to $172.95, down $1.525 for the week. Futures gained as a Plains heat wave constrained animal supplies and pushed cash prices higher. USDA-reported live steers averaged $144.10 through Thursday morning, up $4.00 from last week’s average.

Hogs: July lean hogs rose $1.425 to $110.30, up $5.525 for the week. August hogs rose $1.85 to $107.875. Hog futures surged to two-week highs as wholesale market strength conveyed firm retail demand. Pork cutout values rose $1.87 early today to $113.23.


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.