Grain and oilseed markets were mixed/lower today with wheat futures crumbling, corn posting new contract lows, and soybeans unable to establish market direction. Hog prices continued their rapid liquidation amid supply fears while the bullish case for cattle futures grows. U.S. stock indexes are higher along with the dollar and crude oil. COMEX gold futures are down in an apparent “risk on” move by the market.
Corn December corn futures headed lower and marked a new contract low at $3.57/bushel today. Improving (i.e., cooler) Midwest weather and good crop conditions are keeping bulls on their heels presently. The contract is trying to fund support somewhere north of $3.50/bushel, but prior support points keep fa...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
