Grain and livestock end the day mixed. Thursday, July 14, 2022

Corn settled roughly a nickel higher while soybeans were down 13 cents in August and down 8 in November. Wheat prices traded either side of steady throughout the day but were unable to hold positive territory at the close. CBOT and KC were down 15 cents while spring wheat was down 3 cents.

Grain traders will most likely adjust their positions ahead of the weekend based upon what the weather forecast maps say on Friday.

Livestock futures were mixed at the end of the day. August feeder cattle were down $1.70, while August live cattle were down $1.47. Lean hogs were mixed as July was up 37 cents and August was down 85 cents.

The outside markets recovered much of the losses sustained early in the day. Crude oil battled back to nearly steady at 3 PM. The U.S. stock market futures were also able to rebound off the intraday low and close quietly lower.

Corn is a nickel higher while soybeans are steady on the day. CBOT wheat is down 6 cents. KC wheat is down 5, and spring wheat is up 4 cents. August soybeans have traded over a 45-cent range today. Traders are watching the heat and rain through the end of the month. The July grain contracts will cease trading today at noon. Volume in those contracts has been very light over the past few days.

Livestock futures remain mixed at mid-day. August feeder cattle are down $1.40. August live cattle are down $1.20, and July lean hogs are up 40 cents. Demand for protein during a recession is one concern traders need to address soon.

The outside markets have moved off the extremes hit earlier today. The U.S. dollar has backed off the high, but is still up 0.80 at 108.55. Crude oil is over $4 off the low but is still down $1.40. Stock futures are down over 1.3% today as investors evaluate the outlook for the U.S. economy given the aggressive inflation data.

Corn is down 3 cents, soybeans are down 22, and wheat is quietly lower. The export sales report this morning was a big surprise for wheat as total sales came in over 1 million metric tons when the trade was looking for something between 200,000 and 500,000 metric tons. With that kind of surprise sale, wheat should find willing buyers. The soybean market is under pressure as there were cancellations of old crop sales.

Livestock prices are lower this morning. August feeder cattle are down $1.47. August live cattle are down $1.00 and August lean hogs are down 40 cents. If the grain market slips throughout the day, livestock may garner some momentum to the upside.

Outside markets are volatile this morning. The U.S. dollar index is up 1.28 at 109.04. Crude oil is down $4.25 at 92.05. S&P futures are down 67 points at 3,737 and the Dow Jones futures are down 578 points at 30,180. Traders are concerned about the upcoming Federal Reserve board meeting this month and just how aggressively they will raise rates. The odds of a full point increase to interest rates stands at over 85% this morning.

Tags: feeder cattle, lean hogs, prices, животноводство, soybeans, wheat, futures, сorn, live cattle, markets