After the Bell | June 21, 2022

( )

Corn: July corn futures fell 24 1/4 cents to $7.60 1/4, while December corn fell 27 1/4 cents to $7.03 3/4, the contract’s lowest close since June 3. Corn tumbled on spillover from losses in wheat and an outlook for less-threatening Midwest weather. USDA late today reported 70% of the U.S. crop in "good" or "excellent" condition as of Sunday, down from 72% from a week earlier and meeting expectations.

Soybeans: July soybeans fell 21 cents to $16.81, while November soybeans fell 27 cents to $15.10 1/2, the lowest close since May 31. July soymeal fell $6.80 to $431.30. July soyoil fell 42 points to 73.37 cents, a two-month low. Soybean futures tumbled on spillover from slumping corn and wheat and an outlook for crop-friendlier weather. USDA’s good-to-excellent rating for soybeans fell to 68% as of Sunday from 70% a week earlier and about 1 percentage point lower than expected.

Wheat: July SRW wheat plunged 59 cents to $9.75 1/4, the contract’s lowest close since March 1. July HRW wheat sank 63 3/4 cents to $10.41 1/4. July spring wheat fell 51 3/4 cents to $11.17 3/4. Winter wheat futures fell as accelerating harvest pressure fueled long liquidation. USDA said the winter wheat harvest was 25% complete as of Sunday, up from 10% a week earlier and about 2 percentage points higher than expected.

Cotton: July cotton rose 6 points to 143.51 cents per pound, while most-active December tumbled 444 points to 113.85 cents. Cotton futures ended mostly lower amid sharp losses in grain markets and ongoing recession concerns.

Cattle: August live cattle fell 32.5 cents to $136.25. August feeder futures surged $2.35 to $175.30. Live cattle futures eased amid ideas last week’s Plains heat-driven cash strength will be temporary, while feeder cattle surged as slumping corn signaled cheaper feed costs. Choice beef cutout values rose $1.06 today to $267.56 on strong movement of 143 loads.

Hogs: July lean hogs rose $1.725 to $112.725, the contract’s highest close since April 28. August hogs rose $1.925 at $109.80. Improving cash market fundamentals fueled gains. The CME lean hog index rose 41 cents to $109.16, a 10-month high, and tomorrow’s quote is projected to rise another $1.29. Pork cutout values fell $1.01 today to $110.86, though movement was relatively strong at 335 loads.


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.