After the Bell | November 23, 2022
Corn: March corn futures rose 7 cents to $6.66 1/4 after falling as low as $6.58 1/4. Corn ended slightly higher in light volume ahead of the Thanksgiving holiday as a weaker U.S. dollar muted the bearish impact of weakness in crude oil and concern over increasing Covid cases in China.
Soybeans: January soybeans rose 6 1/4 cents to $14.36, after falling as low as $14.22 1/4 earlier. January soymeal rose $2.40 to $407.40. January soyoil rose 76 points to 72.20 cents. Soybeans rebounded from overnight weakness behind signs of strong export demand and concern dryness in Argentina could crimp yield potential.
Cotton: March cotton rose 48 points to 82.90 cents. Cotton futures rose on light short covering following the market’s drop to three-week lows Tuesday.
Cattle: February live cattle fell $1.00 to $155.425. January feeder cattle fell $2.425 to $179.25. Live cattle fell under corrective profit-taking after reaching one-month highs earlier this week. Feeder futures edged lower as corn prices rose ahead of the Thanksgiving holiday.
Hogs: February lean hogs fell $1.275 to $88.80, the contract’s lowest close since Nov. 11. Hog futures ended at two-week lows as cash fundamentals remained under seasonal pressure amid ramped-up slaughter and slower demand.
