After the Bell | June 17, 2022

( )

Corn: July corn dropped 3 3/4 cents to $7.84 1/2 after touching $8.00 overnight. December corn fell 4 cents to $7.31. For the week, July corn firmed 11 1/4 cents and the December contract rallied 10 1/2 cents. Midwest weather will be key to next week’s market direction following the three-day holiday weekend, with crop-stressing extreme heat expect to persist.

Soybeans: July soybeans fell 7 1/2 cents to $17.02, down 43 1/2 cents for the week, while November soybeans fell 5 3/4 cents to $15.37 1/2. July soymeal rose $8.40 to $438.10, while July soyoil fell 255 points to 73.79 cents. Soybean futures tumbled to end the week as spillover from sharp declines in soyoil overshadowed Midwest weather.

Wheat: July SRW wheat fell 44 cents to $10.34 1/4, down 36 1/2cents for the week and the lowest closing price since April 7. July HRW wheat fell 43 1/2 cents to $11.05 and July spring wheat tumbled 39 1/2 cents to $11.69 1/2. Winter wheat futures sank to the lowest levels in over two months amid U.S. dollar strength and increasing pressure from the U.S. Plains harvest.

Cotton: July cotton fell 8 points to 143.45 cents per pound Friday, down 161 points for the week, while December cotton fell 94 points to 118.29 cents. Cotton futures posted a lower weekly close amid pressure from strength in the U.S. dollar and weakness in U.S. equities.

Cattle: August live cattle gained 27.5 cents to $136.575, up 37.5 cents for the week. August feeders rose $1.65 to $172.95, down $1.525 for the week. Futures gained as a Plains heat wave constrained animal supplies and pushed cash prices higher. USDA-reported live steers averaged $144.10 through Thursday morning, up $4.00 from last week’s average.

Hogs: July lean hogs rose $1.425 to $110.30, up $5.525 for the week. August hogs rose $1.85 to $107.875. Hog futures surged to two-week highs as wholesale market strength conveyed firm retail demand. Pork cutout values rose $1.87 early today to $113.23.

 

Latest News

Corn, soybean CCI ratings drop, spring wheat improves

The soybean CCI rating dropped below the five-year average for the first time this growing season.

After the Bell | July 5, 2022

Corn futures extend slump, hit five-month lows on Midwest rain; soybeans and wheat also plummet.

Sluggish weekly export inspections

Corn, soybean and wheat export inspections all fell short of expectations and below the required paces to hit USDA's export forecasts.

Monday Morning Wake Up Call | July 5, 2022

Grain and soy complex futures are under hefty pressure. Cattle futures are higher with lean hogs mixed to start the week...

Ahead of the Open | July 5, 2022

Grain, soybean futures expected lower on followthrough pressure, weekend rains over much of Midwest.