After the Bell | September 22, 2023

After the Bell
After the Bell
(Pro Farmer)

Corn: December corn futures rose 2 cents to $4.77 1/4 and nearer the daily high. For the week, December corn rose a penny. December corn futures prices this week hit a two-year low and the market feels heavy.

Soybeans: November soybeans rose 2 1/2 cents to $12.96 1/4, but lost 44 cents on the week, while December soymeal fell $2.30 to $385.80 and ended the week down $6.30. December soyoil rose 122 points to 59.62 cents but gave up 244 points on the week. Corrective gains in soyoil futures lent soybean futures mild support in today’s session, while meal weakness limited gains along with persisting U.S. dollar strength.

Wheat: December SRW wheat futures rose 3 3/4 cents to $5.79 1/2 and nearer the session high. For the week, December SRW fell 24 3/4 cents. December HRW wheat futures gained 3/4 cent at $7.11 1/4, nearer the session low and hit a two-year low today. For the week, December HRW lost 35 1/4 cents. Spring wheat futures advanced 3.0 cents to $7.70 1/2. That represented a weekly loss of 18 1/2 cents. The winter wheat futures markets today saw tepid short covering in bear markets.

Cotton: December cotton fell 51 points to 85.96 cents and is down 53 points on the week. Cotton futures pressed lower for the third straight session to end the week, amid U.S. dollar strength and concerns of wavering demand from China.

Cattle: Cattle and feeder futures rebounded sharply from Thursday’s commodity sector sell-off. Nearby October live cattle jumped $2.10 to an all-time high close at $187.075. That marked a weekly gain of 15 cents from last Friday’s previous record. October feeder futures surged $1.375 to close at $259.15. That represented a weekly loss of $5.325. The cash have shown signs of sustained strength through the first four days of the week, with the five-area average for Monday-Thursday reaching $184.54, up 28 cents from last week.

Hogs: Hog futures suffered another sizeable drop Friday, with the midrange close at $81.525 reflecting daily and weekly losses of $1.425 and $1.60, respectively. Hog futures proved unable to rebound from Thursday’s sector-wide commodity selloff, with cash and wholesale slippage providing little encouragement to market bulls.

 

 

 

 

 

 

Latest News

PF Report Reaction: Bullish USDA data for corn
PF Report Reaction: Bullish USDA data for corn

Corn planting intentions and March 1 stocks came in lower than expected.

Report Snapshot: USDA shows lighter-than-expected corn acres and stocks
Report Snapshot: USDA shows lighter-than-expected corn acres and stocks

USDA reported corn acres of 90.036 million acres for 2024 and March 1 stocks of 8.347 billion bu., both well below trade estimates. Soybean acres were slightly lower than expectations, while stocks were higher.

Timeline and Issues in Getting Baltimore Port Channel Reopened
Timeline and Issues in Getting Baltimore Port Channel Reopened

Exxon Mobil and SAF | Fed governor says ‘no rush’ to lower rates | Russia aids Cuba | Key USDA reports today

Cattle Strength Wanes | March 28, 2024
Cattle Strength Wanes | March 28, 2024

Japan works to support Yen, Eurozone cuts production forecast and the Biden Administration will repair Baltimore Bridge...

Ahead of the Open | March 28, 2024
Ahead of the Open | March 28, 2024

Corn, soybeans and wheat traded in tight ranges overnight, with grains showing relative strength into the break.

Weekly wheat sales exceed expectations, while soybeans miss
Weekly wheat sales exceed expectations, while soybeans miss

Weekly wheat sales were just above the pre-report range for the week ended March 21, while soybean sales missed the expected range by 36,000 MT. Corn sales held steady at 1.21 MMT.