After the Bell | September 20, 2023
Corn: December corn rose 6 cents to $4.82 1/4, marking a close above the 10-day moving average and the largest daily price gain since Aug. 23. Corn futures were able to post a second straight day of gains amid short-covering and spillover strength from the SRW wheat.
Soybeans: November soybeans closed up 4 1/2 cents at $13.20 and near the session high. December soybean meal rose $5.90 at $395.10 and near the session high. December bean oil fell 100 points at 59.29 cents, nearer the session low and closed at a two-month-low close. Soybean and meal futures saw short covering today after hitting four-week lows on Tuesday.
Wheat: December SRW futures rose 4 3/4 cents before settling at $5.88 3/4 after trading on both sides of unchanged throughout the session. December HRW futures fell 2 cents before closing at $7.29. December spring wheat rose 3 3/4 cents to $7.83 1/2. Wheat futures saw trading on both sides of unchanged Wednesday, though bullish influences from the corn and soybean markets ultimately helped SRW futures close higher on the day.
Cotton: December cotton closed down 66 points at 86.86 cents today and near the session low. The cotton futures market saw some routine profit-taking pressure today.
Cattle: Cattle futures rebounded from early losses Wednesday, with nearby October live cattle closing $1.10 higher at $186.775 and October feeders surging $1.225 to $260.575. The supply of market-ready cattle in feedlots remains very tight, whereas packer demand apparently remains robust.
Hogs: October lean hog futures rose 92.5 cents to $85.775, marking the highest close since July 31. Lean hog futures made a new for the move high today, marking over a month of the choppy uptrend since the August low.
