Wheat Rallies; Corn, Beans Also Stronger

grains recap
grains recap
(Commodity Update)

Corn: December corn rose 10 3/4 cents to $6.91 1/2, the contract’s highest closing price since Oct. 13. Corn gapped higher at the start of overnight trading after Russia suspended participation in the Ukraine export agreement, exacerbating concern over tight global grain supplies.

Soybeans: January soybeans rose 19 1/4 cents to $14.19 1/2, the contract’s highest close since Sept. 29. December soymeal rose $2.70 to $428.10, the highest close since Sept. 22. December soyoil gained 142 points to 73.21 cents. Soybeans ended at the highest level in over a month as the soy complex joined a rally in wheat amid escalating concern over global grain and oilseed supplies.

Wheat: December SRW wheat rose 53 cents to $8.82 1/4 and December HRW wheat gained 53 3/4 cents to $9.78 3/4, both the highest settlements since Oct. 13. December spring wheat rose 36 1/4 cents to $9.81 1/4. Wheat soared in the wake of Russia’s weekend announcement it was withdrawing from an agreement enabling grain exports from Ukraine’s Black Sea ports.

Cattle: December live cattle fell 52.5 cents to $152.475, the contract’s lowest close since Oct. 21. January feeder cattle fell 92.5 cents to $179.45, the lowest close since Sept. 20. Live cattle fell for a third consecutive session as the market extended corrective declines from last week.

Hogs: December lean hogs fell $1.175 at $84.925, the contract’s lowest close since Oct. 14. Nearby hogs took followthrough profit-taking pressure amid signs of weakening cash fundamentals. The CME lean hog index fell 38 cents to $93.77 (as of Oct. 27), the third straight daily decline.

 

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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.