After the Bell | April 26, 2023

Corn: July corn fell 6 3/4 cents to $6.01, near the session low and is the lowest close since July 25. Followthrough selling persisted in the corn market for the sixth straight session, as crude oil edged lower.

Soybeans: July soybeans fell 2 3/4 cents to $14.14 3/4, near the session low and closed at a four-week-low close today. July soybean meal dropped $7.60 at $427.40, near the session low and hit a 4.5-month low. July bean oil closed up 36 points at 52.50 cents, nearer the session high and hit a four-week low early on. The soybean and meal futures markets today were pressured by a general “risk-off” trading day in the marketplace.

Wheat: July SRW fell 11 cents before settling at $6.42, a penny off the intraday low. July HRW futures fell 19 3/4 cents and settled at $7.83 1/4. Spring wheat futures saw the most extensive selling of the wheat complex, falling 23 1/2 cents to $8.13. Wheat futures remain under pressure amid continuing worries of the overall health of financial markets as another U.S. bank is failing and the government is unwilling to intervene.

Cotton: July cotton fell 26 points to 78.36 cents, near the session low and at a four-week low close. It was another “risk-off” trading day in the general marketplace today, amid more U.S. banking worries and a wobbly U.S. stock market.

Cattle: June live cattle futures rose 55 cents before settling at $164.575. May feeder futures rose 85 cents to settle at $210.275. Live cattle futures saw gains today as price continues to consolidate in a tight range.

Hogs: June lean hog futures soared $3.235 to $90.275 Wednesday, leading the whole hog and pork complex higher. Anticipation of the long-awaited seasonal rally in hog and pork values seemed to surge Wednesday, with the large advance by the most-active June contract exemplifying fresh bullish expectations.