After the Bell | October 20, 2021
Signs of stronger exports send corn, soybean futures to two-week highs; HRW wheat posts highest close in over seven years.
Disinflationary pressures along with big Corn Belt rains undercut the crop markets Thursday. Worries that wholesale meat prices are set to decline seasonally depressed the livestock markets.
Forecast rains over much of the Midwest seemed to sink soybean futures, whereas corn and wheat seemed to be competing for 2021-22 acreage. Beef values challenged the June high and seemingly boosting livestock prices.
Big wheat losses weighed on corn and soybeans Tuesday, eventually reversing early bean gains tied to announced daily sales. Livestock futures set back on concerns about wholesale strength translating to cash markets.