Wheat Rallies to 2-Month High

grains recap
grains recap
(Commodity Update)

Corn: December corn rose 13 3/4 cents to $6.92. Corn rose a second straight day on spillover from a sharp rally in the wheat market, which rose on renewed concern over grain shipments from the Black Sea region. Concerns over Black Sea supplies escalated following reports Russian-installed leaders in occupied areas of four Ukrainian regions had set plans for referendums on joining Russia this week.

Soybeans: November soybeans rose 17 1/2 cents to $14.78 3/4. December soymeal gained $10.10 to $439.40, a lifetime-high close. December soyoil rose 75 points to 65.91 cents. The soy complex was supported by spillover from rallies in corn and wheat, as well as slower than expected U.S. harvest progress and indications of strong crushing demand.

Wheat: December SRW wheat surged 63 1/4 cents to $8.93 3/4, the contract’s highest close since July 8. December HRW wheat rose 53 1/4 cents to $9.63, the contract’s highest close since June 30. December spring wheat gained 41 cents to $9.59 1/4. Wheat futures rallied in part on concern Vladimir Putin may block renewal of a safe passage deal allowing grain shipments out of Ukraine’s Black Sea ports.

Cattle: October live cattle rose 57.5 cents to $146.30, the highest settlement for a nearby contract since August 2015. October feeder cattle fell $2.275 to $180.025. Nearby live cattle ended firmer on expectations for further near-term cash market strength.

Hogs: October lean hogs fell 50 cents to $95.975, while deferred contracts posted modest gains. Hog futures were supported by ideas the cash market is establishing a near-term bottom. The CME lean hog index gained 45 cents today to $98.42 (as of Sept. 16). Tomorrow’s index is expected to decline 6 cents.

 

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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.