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First Thing Today | January 26, 2022

The wheat market faced profit-taking and corrective selling overnight following strong gains the first two days this week. Corn was pulled slightly lower by wheat, while soybeans favored the upside in two-sided trade.

First Thing Today | January 25, 2022

Wheat futures found followthrough buying overnight amid heightened tensions with Russia and deteriorating U.S. winter wheat conditions, while the corn and soybean markets favored the downside in light, two-sided trade.

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Drought causes further deterioration of HRW wheat conditions during January

Individual state crop conditions ratings released on Monday showed further deterioration of the HRW wheat crop during January due to drought in the Plains.

Meat
Cold Storage Report: Beef stocks build in December, pork stocks decline

It’s typical for frozen beef stocks to rise during December, though the increase was slightly greater than normal. It’s also normal for pork stocks to decline in December, though the drop was less than average.

Notable weekly declines in soybean, corn export inspections

Weekly corn, soybean and wheat inspections were all within the range of pre-report estimates.

Monday Morning Wake Up Call | January 24, 2022

Corn and soybeans are under pressure as wheat futures find support to start the week. Cattle futures are sharply lower as lean hog futures post corrective losses.

First Thing Today | January 24, 2022

Wheat futures were supported by increased geopolitical tensions between Russia and Ukraine, while soybeans and corn were pressured by South American weather.

Cattle on Feed Report: Placements stronger than anticipated

With all three categories coming in on the bearish side of the average pre-report estimates, the report is price-negative.