Winter Wheat Climbs Near Three-Month High

grains recap
grains recap
(Commodity Update)

Corn: December corn rose 2 3/4 cents to $6.88 1/4. Corn posted modest gains with support from continued strength in wheat markets and ongoing concern over supply disruptions in the Black Sea region. A reduced outlook for Argentina’s corn crop also supported prices.

Soybeans: November soybeans fell 4 1/4 cents to $14.57. December soymeal fell $9.90 to $428.90 after earlier hitting a contract high at $443.80. December soyoil rose 146 points to 66.46 cents. Soybean futures fell a second day on a combination of disappointing export numbers, a stronger South American crop outlook and a sharp downturn in soymeal.

Wheat: December SRW wheat rose 7 cents to $9.10 3/4, the contract’s highest close since June 29. December HRW wheat gained 12 1/2 cents to $9.79 1/2. December spring wheat rose 13 1/2 cents to $9.77 3/4. Winter wheat climbed to the highest levels in nearly three months as concerns over Ukraine disruptions offset disappointing export sales and a jump in the U.S. dollar index to a 20-year high.

Cattle: October live cattle fell $1.025 to $144.85, the contract’s lowest closing price since Sept. 14, while October feeder cattle tumbled $1.25 to $177.975. Recent weakness in wholesale beef prices and concerns over a potential global recession weighed on cattle futures.

Hogs: October lean hogs fell 30 cents to $94.125, the contract’s lowest closing price since Sept. 12. Lean hogs fell to the lowest levels in over a week on followthrough pressure from Wednesday’s lackluster close and tumbling wholesale pork prices.

 

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.