After the Bell | March 15, 2023

After the Bell
After the Bell
(Pro Farmer)

Corn: May corn futures rose 5 3/4 cents to $6.26 1/2 and nearer the session high. Short covering was featured in the corn futures market today.

Soybeans: May soybeans fell 4 1/2 cents to $14.89 1/4, a mid-range close. May meal futures fell $2.80 to $478.40, while May soyoil rose 16 points to 56.34 cents. Overnight bull efforts to breach $15.00 ultimately proved futile, with crude oil weakness and a surging U.S. dollar casting a shadow across commodities.

Wheat: May SRW wheat rose 6 1/2 cents to $7.02 3/4 and nearer the session high. May HRW wheat gained 2 cents at $8.19 3/4 and near mid-range. May spring wheat futures rose 2 1/2 cents to $8.52 1/2. More short covering was featured in winter wheat futures today after May SRW and HRW contracts hit new lows last week.

Cotton: May cotton fell 226 points to 79.11 cents, after trading as high as 81.73 cents. Cotton futures fell under pressure, wiping out gains from the previous two sessions as the U.S. dollar rocketed higher, while equities and crude oil futures posted heavy losses.

Cattle: April live cattle fell $1.50 to $161.55 Wednesday, while most-active April feeder futures dove $2.50 to $193.25. Concerns about the economic outlook amidst an apparent banking crisis seemed to sink most commodity markets Wednesday.

Hogs: April lean hog futures fell $1.65 to settle at $83.75, with deferred contracts seeing greater losses. Lean hog futures have not been immune to the recent market turmoil.

 

 

 

 

 

 

 

 

 

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