After the Bell | November 13, 2023

Corn: December corn rallied 13 1/4 cents to $4.77 1/4, marking the highest close since Nov. 3. An overnight reach to a fresh low and strong gains in soybean and soymeal futures ignited corrective buying efforts in corn.

Soybeans: January soybeans soared 35 cents before closing at $13.82 1/2, ending on the session highs. December soybean meal rose $19.70 after trading limit up mid-morning, settling at $469.10. December soyoil rose 34 points to 51.54 cents, closing nearer session highs. Soybeans struggled to show continued strength overnight following a gap higher, though prices surged throughout today’s session, sending January futures above last week’s pre-report highs.

Wheat: March SRW wheat rose 3 cents to $6.02 1/4. March HRW wheat gained 1 1/4 cents to $6.52. Prices closed nearer their session highs. December spring wheat fell 1 3/4 cents to $7.28 3/4. Solid gains in corn and soybeans/meal spilled over into modest buying interest in wheat futures today.

Cotton: December cotton rose 16 points to 77.48 cents, a mid-range close following narrow trade. December cotton edged higher for the third straight session as supportive outside markets supported the natural fiber to start the week.

Cattle: December live cattle rose 75 cents to $174.925 and near mid-range. January feeder cattle gained $1.875 at $228.30 and nearer the session high. The cattle futures markets saw short covering today after prices last Friday hit multi-month lows.

Hogs: December lean hog futures rallied $1.45 before settling at $73.35. Lean hog futures surged above technical resistance despite soaring feed costs in a day that saw most commodities rally.