After the Bell | April 27, 2023

After the Bell
After the Bell
(Pro Farmer)

Corn: July corn futures fell 19 1/2 cents to $5.81 1/2, falling to the lowest level since July 22. Corn futures continue to tumble with fundamentally bearish catalysts compounding against the grain.

Soybeans: July soybeans fell 11 cents to $14.03 3/4, the lowest close since March 23. July meal was unchanged at $427.40, while July soyoil fell 167 points to 50.83 cents. Soybeans pressed lower for the seventh straight session, taking spillover weakness from the grain complex following early morning export sales cancellations along with mostly favorable planting weather across the Midwest.

Wheat: July SRW wheat fell 12 3/4 cents at $6.29 1/4, near the session low and hit a 22-month-low. July HRW wheat dropped 18 cents at $7.65 1/4, near the session low and hit a 14-month low. July spring wheat fell 28 cents to $7.85. The wheat futures markets suffered the consequences of spillover selling amid a drubbing in the corn futures market today after China cancelled another U.S. corn purchase.

Cotton: July cotton rose 204 points to 80.40 cents, closing nearer the session high. July cotton made a solid attempt to turn off this week’s low following notable export sales data, released ahead of the open.

Cattle: Expiring April live cattle futures surged 92.5 cents to $175.45 Thursday, while most-active June futures rose 62.5 cents to $165.20. April feeder futures went off the board at noon, being unchanged at $202.675. May feeder futures advanced $1.25 to $211.525. As we have expected, cash cattle prices are proving quite strong this week.

Hogs: June lean hogs fell 17 1/2 cents to $90.10, nearer the session high and hit a three-week high early on. It was not a bad day for the lean hog futures bulls, after posting stronger losses earlier in the session and following good gains seen Wednesday.

 

 

 

 

 

 

 

 

 

 

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