Wheat Futures Tumble, Soybeans Climb

grains recap
grains recap
(Commodity Update)

Corn: December corn fell 10 1/4 cents to $6.87 1/2. Corn followed wheat lower after Russia said it will resume participation in a deal allowing Ukrainian grain exports from Black Sea ports, four days after suspending the agreement and sparking a sharp grain market rally.

Soybeans: January soybeans rose 6 1/4 cents to $14.54, the contract’s highest close since Sept. 22. December soyoil rallied 224 points to 75.61 cents, the contract's highest close since June 10. December soymeal fell 30 cents to $424.50. Soybean futures rose to a six-week high behind strength in crude oil and global vegoil markets.

Wheat: December SRW wheat fell 56 1/2 cents to $8.46. December HRW wheat dropped 49 3/4 cents to $9.40 1/4. December spring wheat fell 40 1/2 cents to $9.49 1/4. Easing supply concern drove wheat futures sharply lower after Russia reversed its stance on the Ukraine export deal.

Cattle: December live cattle fell 55 cents to $151.40, the contract’s lowest close since Oct. 19. January feeder cattle gained $1.80 to $180.00. Live cattle fell a fifth consecutive session despite strong cash fundamentals as the market extended a corrective pullback from last week’s rally to contract highs.

Hogs: December lean hog futures fell $1.90 to $83.30, the contract’s lowest settlement since Oct. 14. Lean hog futures sank near a three-week low as the market extended a late-October pullback amid recent erosion in cash fundamentals, rising supplies and concern over demand.

 

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 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 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)
Today's Market Recap (1.20.23)

Market recaps for corn, soybeans, wheat, cattle & hogs.

Improving Argentine Weather Forecasts Weigh on Grain, Soy
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
Corn, Soybeans & Wheat Prices Fall; Cattle Mixed

Today's closing prices and market recaps.

Morning Calls & Comments (1.13.23)
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.