After the Bell | April 10, 2023

Corn: May corn rose 10 1/2 cents to $6.54, ending the session above the 10- and 40-day moving averages. Corn rebounded from last week’s four-day sell off despite a lack of support from outside markets.

Soybeans: May soybeans fell 5 1/4 cents at $14.87 1/4, while May soybean meal fell $3.60 to $450.70. May soyoil fell 5 points to 54.48 cents. Soybean futures continued to slide following last Thursday’s rout as traders’ position ahead of tomorrow’s USDA WASDE report.

Wheat: May SRW wheat rose 3 cents at $6.78 1/2 and near mid-range. May HRW wheat gained 11 1/2 cents at $8.76 and nearer the session high. Spring wheat futures rose 3 cents to settle at $8.75, 11 cents off the intraday high. The HRW wheat futures market pulled SRW prices higher today amid ongoing concerns about dry weather in U.S. HRW country and other world wheat-growing regions.

Cotton: May cotton fell 75 points to 82.45 cents, ending the session below the 100-day moving average. Cotton experienced mild selling pressure after early attempts to extend last week’s gains, though a rising U.S. dollar and easing crude oil futures ultimately limited gains.

Cattle: June live cattle rose 60 cents to $163.70, nearer the session high and hit another contract high. May feeder cattle gained 22 1/2 cent to $205.625 and nearer the session high. Solid cash cattle fundamentals continue to fuel the bulls and upside price action in the cattle futures markets.

Hogs: June lean hogs rose 97.5 cents to $89.15, nearer the session high. Lean hog futures saw corrective buying in deferred contracts today despite a lagging cash market.