After the Bell | October 26, 2023
Corn: December corn fell 3/4 cent to $4.79 1/4 and nearer the session low. The corn futures market saw buyer interest limited today by a “risk-off” trading atmosphere in the general marketplace.
Soybeans: November soybeans fell 8 3/4 cents to $12.79 1/2, closing near the session low and below the 20-day moving average. December meal rose 30 cents to $429.50, while December soyoil fell 86 points to 51.74 cents. A modest rally led by meal strength vaporized into mid-morning despite notable weekly export sales data and a report of a daily sale of 110,000 MT of U.S. soybeans to China during 2023-24.
Wheat: December SRW wheat rose 11 cents to $5.79 1/2 and near the session high. December HRW wheat gained 5 3/4 cents at $6.54 3/4, nearer the session high and hit a more-than-two-year low early on. December spring wheat futures rose 3 1/2 cents to $7.24 1/4. The wheat futures markets today saw short covering following recent losses.
Cotton: December cotton rose 78 points to 84.59 cents and closed above 100-day moving average for the first time since Oct. 19. December cotton futures were able to post followthrough gains, with USDA’s weekly export sales giving a boost to the natural fiber.
Cattle: Expiring October live cattle futures rose 57.5 cents to $181.70 Thursday, while most-active December slipped 10 cents to $179.325. October feeder futures went off the board 57.5 cents higher at $240.55. Nearby November feeders tumbled $1.55 to $236.50. The cattle market began Thursday on a firm note, which likely reflected modest cash losses, when compared to the huge futures breakdown suffered Monday, as well as continued wholesale market firmness.
Hogs: Hog futures rose again Thursday, with nearby December gaining $1.125 to $68.625. Sustained cash market stability seemed to encourage bulls in hog futures again today.
