After the Bell | May 2, 2023

Corn: July corn futures fell 4 1/2 cents to $5.80, near the session low and closing at a nine-month-low close. The grain futures markets were hit hard today by keen risk aversion in the general marketplace as the stock market sunk on renewed U.S. regional banking sector worries.

Soybeans: July soybeans fell 16 3/4 cents to $14.10 3/4, ending near the session low after trading as high as $14.40, while July meal fell $5.70 to $427.90. July soyoil fell 2 points to 51.79 cents. Overnight gains faded shortly into the open, as meal weakness and a record U.S. planting pace weighed on the soy complex.

Wheat: July SRW wheat fell 9 cents at $6.09 1/4, near the session low and hit a 22-month low. July HRW wheat dropped 17 cents at $7.40 1/4, near the session low and hit another 14-month low. July HRS wheat fell 17 1/2 cents to $7.73 1/2. The wheat markets continue to slump, with HRW leading the way.

Cotton: July cotton fell 94 points to 80.37 cents, ending the session near the session low and beneath the 10-day moving average. Cotton futures tumbled in tandem with plummeting crude oil futures amid looming global economic concerns.

Cattle: June live cattle futures fell $1.975 to $162.9, nearer the low of the day. May feeder futures fell $3.75 to $205.95, just off the intraday low. Live cattle futures saw extensive selling across the board today as macro-economic concerns weighed on markets.

Hogs: After having opened weakly, June hog futures ended Tuesday having climbed 25 cents to $89.95.  The cash hog and wholesale markets have turned decidedly higher.