Weekly Market Recap (7/29)

grains recap
grains recap
(Commodity Update)

Corn: December corn futures rose 1 cent to $6.20, up 55 3/4 cents for the week and the highest closing price since July 11. December futures rose a fifth straight session on concern over heat and dryness expected in much of the Midwest during the first half of August.

Soybeans: November soybeans rose 28 cents to $14.68 1/2, the highest closing price since June 29. November futures soared $1.52 3/4 for the week, or 11.7%, the largest weekly percentage gain since August 1999. Soybeans rose for a sixth consecutive session on escalating concerns heat and dryness during the first half of August will pinch yield potential.

Wheat: September SRW futures fell 9 1/4 cents to $8.07 3/4, still up 48 3/4 cents for the week. September HRW fell 15 1/4 cents to $8.74 1/2, up 54 1/4 cents for the week. December spring wheat fell 15 1/2 cents to $9.23 1/2. Wheat faded from initial gains but still rose for the week amid sharp gains in corn and soybeans and uncertainty over the resumption of grain shipments from Ukraine.

Cattle: August live cattle rose 27.5 cents to $136.45, down 92.5 cents for the week, while October futures gained 40 cents to $142.225. September feeder cattle rose $1.35 to $181.55. Live cattle futures ended the day firmer but down for the week with the cash market heading for a fourth consecutive weekly decline.

Hogs: August lean hog futures rose $1.525 to $120.65, up $1.95 for the week and the contract’s highest closing price since March 30. October lean hogs rose 90 cents to $97.225. Nearby hog futures extended this week’s rally behind strong cash fundamentals. The CME lean hog index rose 85 cents to $120.58 (as of July 27), just $2.10 under last year’s $128.68, posted in mid-June.


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.