Wheat Futures End Higher; Soybeans Near 3-Week Low

grains recap
grains recap
(Commodity Update)

Corn: December corn futures rose 1 1/4 cents to $6.67 1/2, near the bottom of today’s range. Corn posted a modest corrective recovery from Monday’s sharp declines behind support from higher crude oil prices and slower-than-expected harvest.

Soybeans: November soybeans fell 3 1/4 cents to $14.08, the contract’s lowest close since Sept. 8. December soymeal dropped $3.90 to $413.60. December soyoil fell 7 points at 62.39 cents. Concern over a global recession and a general risk-off mindset in financial markets continued to weigh on the soy complex.

Wheat: December SRW wheat rose 13 1/2 cents to $8.71 1/2, while December HRW rose 13 3/4 cents to $9.43 1/4. December spring wheat rose 12 cents to $9.43 1/4. Winter wheat futures rose for the first time in three sessions on short covering and corrective buying following Monday’s declines.

Cattle: December live cattle fell 45 cents to $146.90, the contract’s lowest close since July 21. November feeder cattle dropped 77.5 cents to $176.275. Cash market fundamentals appear to be weakening, with steady to lower cash trade likely later this week.

Hogs: December lean hogs fell $3.15 to $76.25, the lowest close since December 2021. Hog futures tumbled a fifth straight day to a nine-month low amid collapsing technicals and an eroding cash market. The CME lean hog index fell 60 cents to $96.99, the lowest since mid-February, and is expected to drop another 60 cents Wednesday.


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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.