Grain costs finish the day beneath stress Friday, July 1, 2022

US grain costs ended the commerce on Friday decrease. September corn was down 9 cents with December corn down 12 ¼ cents. August soybean futures have been 50 ¾ cents decrease with November beans down 62 ¾ cents. September Chicago wheat closed down 37 ½ cents. September Kansas Metropolis wheat closed down 37 ¾ cents, and September Minneapolis wheat closed down 42 cents.

Livestock costs closed the day greater. Reside cattle futures completed the day up $2.02 on the August contract. August feeder cattle closed up 90 cents. July lean hog futures closed the day 47 cents greater.

Crude oil is up $2.44, and the Dow futures are 322 factors greater.

One other tough week of buying and selling for US grain costs. Fund promoting was the foremost subject this week and that continued all week lengthy. A mixture of recession talks and month finish and quarter finish all added to the explanation why the funds liquidated so many contracts this week.

Climate is asking for some rain to hit Iowa and Illinois over the lengthy vacation weekend. If the rain does not materialize or underperform, we’ll probably see the next commerce come Tuesday. The subsequent 10-day climate forecast seems to be non-threatening, however from July 10 to twenty there are some fashions speaking a few hotter and drier sample. We’re very a lot right into a climate market so search for the path of commerce subsequent week to be based mostly off of the newest climate maps.

Livestock markets had a great near the week with greater money costs in each stay cattle and lean hogs, pushing costs up on the finish of the week. Seasonally talking, we usually see lean hogs unload for a number of weeks and stay cattle to push a bit of greater. Livestock markets the previous two weeks appear to be getting a few of their path although from the inventory markets.

Grain markets will probably be closed on Monday in observance of the July 4th vacation. Commerce will resume at 8:30 am CT on Tuesday morning. Have a secure and comfortable 4th of July!

Extra promoting in grain markets: 10:45 am

At noon, September corn futures are down 6 to 7 cents with December corn futures down 10 to 11 cents. August soybean futures are 45 to 46 cents decrease with November futures down 57 to 58 cents. September Chicago wheat is 28 cents decrease. September Kansas Metropolis wheat is 40 cents decrease, and September Minneapolis wheat is 39 cents decrease.

Livestock costs are greater with stay cattle up $2.77. Feeder cattle are $1.37 greater. Lean hogs are up 87 cents per hundred. Livestock markets are catching hearth. String money market helps help the stay cattle. Reside cattle provides look to be on the tight facet as we head into the autumn timeframe, and this could assist help costs going ahead. Feeder cattle are getting good help from the corn market being beneath stress.

Crude oil is up $2.29 this morning, and the Dow futures are 103 factors decrease.

Extra fund promoting is the subject right this moment. After a impartial to pleasant crop report yesterday, the funds have been in a liquidation mode. Among the promoting is because of month finish and quarter finish as funds shut out positions to stability every part out.

Climate forecasts are calling for rain within the Midwest over the three-day weekend and that appears to assist stress the corn and bean markets much more. Temperatures nonetheless stay very seasonal. As soon as we get previous the Fourth of July vacation, the market can pay further shut consideration to the climate maps and the temperatures as we’ll begin to see components of the US head into the essential pollination season.

Grain costs largely decrease this morning: 8:45 am

September corn futures are 1 to 2 cents decrease. August soybean futures are 23-24 cents decrease. September Chicago wheat is 2 cents greater. September Kansas Metropolis wheat futures are 3 cents decrease, and September Minneapolis wheat futures are 5 cents decrease.

Livestock costs are greater this morning. Reside cattle are $2.57 greater. Feeder cattle are $1.05 greater. Lean hog futures are 72 cents greater.

Crude oil is up $2.25 this morning, and the inventory market is down 63 factors to begin off right this moment’s commerce.

Uneven motion within the grain markets for Friday after the USDA launched their Acreage report and Quarterly Grain Shares report yesterday. Total, the report was impartial to pleasant on soybeans, however the merchants didn’t commerce it that means. Climate right this moment is non-threatening, however we might want to get some moisture quickly in a number of areas.

Open curiosity continues to drop in commodities because the investor is content material to take the cash and head to the sidelines. It appears it’ll take a significant climate occasion this summer time to get the surface cash to return again into the grain costs. Till that occurs, it appears like rallies will probably be onerous to maintain.

Within the livestock markets, stay cattle proceed to battle between recession fears and pleasant fundamentals. Money is transferring greater, particularly within the north, however we lack the surface traders to push futures greater. Feeder cattle are pushing greater primarily from the decrease corn costs over the previous two weeks.

Search for a uneven commerce right this moment as merchants take off early forward of a three-day weekend.

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In regards to the Writer: Cory Bratland is the youngest of 5 kids who grew up on his household’s farm close to Willow Lake, South Dakota. Bratland attended Willow Lake Excessive College and graduated with an AAS diploma in ag enterprise administration at Lake Space Technical Institute in Watertown, South Dakota. He started his profession as a money grain marketer and grain dealer with Cargill, Inc. Whereas working for Cargill, Inc. Bratland held numerous merchandising jobs throughout South Dakota and Minnesota. In 2003, he was licensed as a Sequence 3 and 30 commodity dealer. In 2008, Bratland left Cargill to be an impartial commodity dealer, beginning Prairie Ag Advertising Companies. In 2009, he partnered with Al Kluis as an affiliate workplace. In 2010, he grew to become Kluis Commodity Advisors‘ Chief Grain Strategist. Along with working with Al every day on advertising and marketing methods, Bratland additionally serves non-public shoppers by Kluis Publishing and Prairie Ag Advertising. He lives close to Willow Lake, South Dakota together with his spouse Erica and kids, Hunter, Elliot and Isabella. He nonetheless actively participates within the household farm that raises corn, soybeans, alfalfa, and likewise runs a cow/calf operation.

Editor’s Word: The danger of loss in buying and selling futures and/or choices is substantial, and every investor and/or dealer should think about whether or not it is a appropriate funding. Previous efficiency – whether or not precise or indicated by simulated historic exams of methods – isn’t indicative of future outcomes. Buying and selling recommendation displays good-faith judgment at a selected time and is topic to alter with out discover. There isn’t a assure that the recommendation given will end in worthwhile trades.

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