Grains ended mixed on Friday with corn and beans lower still removing South American weather premium, while wheat saw some short covering. Soybeans and wheat were lower for the week, while corn was nearly flat. Livestock ended higher on Friday with some end of week short covering, but still posted lower weekly closes after disappointing cash. Arlan Suderman of StoneX Group has analysis.
Livestock and Wheat Close Higher Friday on Short Covering: Corn and Beans Lower on Improved SA Weather
Corn and beans lower Friday removing SA weather premium, while wheat saw some short covering. Livestock ended higher on Friday with some end of week short covering. Arlan Suderman of StoneX Group has analysis.
January 20, 2023 01:58 PM
Related Stories
Joe Kooima of Kooima Kooima Varilek says the gap lower opening in cattle futures Monday in response to the border reopening to Mexican imports was volatile. They anticipate more to come to price in the news, even after a $25 to $30 break in the futures recently.
Brian Grete with Commstock Investments says, “We’ve seen China come in and be a fairly active buyer over the past several weeks here of new crop U.S. soybeans. There was more talk of that on Friday. And so that gave us some price support.”
Scott Varilek with Kooima Kooima Varilek says the live cattle futures made new lows for the move Thursday before finding support and putting in key reversals.
Read Next
After years of dry falls, a historic El Niño could cut U.S. farmers’ fall field-workable days by 20%, Nutrien’s Eric Snodgrass warns, while drying delays and flat acreage threaten Brazil and Argentina’s 2026-2027 crop.
Commodity Market Futures
Futures prices on grains, livestock, oil and more
Farm Journal TV
Trusted ag insights and real stories from rural America. Start your free trial today.
Pro Farmer
Join Pro Farmer today to access trusted market intelligence and expert analysis that help you make more confident decisions.
