Grain futures ended the day mixed. Wednesday, July 13, 2022

Grain futures ended the day mixed after trading considerably lower this morning.  September corn ended the day at $6.00 after trading down to $5.85 and up to $6.12 during the day. New crop corn was up 8 cents at the close. August soybeans ended the day up 16 cents after a 53-cent trading range for the day. All three classes of wheat were unable to hold onto intraday gains and closed slightly lower.

Livestock futures managed to rally into the close. August feeder cattle were up $1.22 at the close while August live cattle were up a dime at the end of trading. July hogs ended the day up 90 cents.

Outside markets were mixed at the close after a volatile day. The U.S. dollar was down 0.12. Crude oil was up $0.42. S&P futures were down slightly and Down Jones futures were down 120 points.

Traders will be watching the lows from today as major support in many commodities. Will fund managers be willing to buy even though the inflation data is bearish in the US?

Grain futures were able to shrug off the selling pressure that resulted from the surprise increase to inflation data this morning. September corn is up 15 cents while December corn is up 16 cents. August soybeans are up 27 cents while November is up 17 cents. Wheat is up 12 to 19 cents.

All livestock futures have moved into positive territory at mid-day. August feeder cattle are up $1.10 and August live cattle are up 52 cents. July lean hogs are up 95 cents.

The outside markets have reversed from the early morning extremes. The U.S. dollar is down 0.42 at 107.50. Crude oil is up 5 cents. S&P futures are down 8 and the Dow Jones futures are down 123.

Traders are closely watching the updates to weather maps in addition to how the outside markets finish the day given the poor economic data today.

Grain prices traded in a wide range overnight. Prices were in positive territory earlier this morning ahead of the CPI report that was released at 7:30 a.m. CT.

Within seconds of the report being released, prices quickly dipped lower as the inflation data was worse than expected – meaning the data increased more than the trade was looking for. This has pushed traders to believe we will see a 0.75% rate increase by the Federal Reserve at their July meeting. Prices have battled back to positive territory after the 8:30 bell. Corn and soybeans are both up 7 cents. Wheat is 2 to 4 cents higher.

Livestock prices are mixed after a strong close on Tuesday. Feeder cattle are down $1.25, while live cattle are down 50 cents. Lean hogs are up 87 cents.

Outside markets were initially rattled by the inflation data this morning. However, many of the markets are well off the early session lows. The U.S. dollar is up 0.16 at 108.07. Crude is up 82 cents at $96.66, and the S&P futures are down 0.9%.

Tags: hogs, wheat, futures, live cattle, markets, feeder cattle, corn, grain, животноводство, soybeans