After the Bell | August 5, 2022

( )

Corn: After a dismal start to the trading week, the bulls finished stronger, suggesting some follow-through technical buying interest from the speculators early next week. Traders will continue to monitor vessels loaded with Ukrainian grain in the Black Sea region.

Soybeans: November futures were able to hold steady in overnight trade, continuing to pivot around the psychological $14.00 mark, ultimately reaching $14.28 3/4 before setting back. Momentum into the morning hours faded as beneficial rains are expected over the western Corn Belt, an area that has been consistently dry throughout the growing season.

Wheat: The wheat complex continued sideways-to-lower on the week as traders kept a keen eye on the progress of resumed exports of Ukrainian grain out of Black Sea ports. So far, corn has been the primary commodity shipped from the ports of Odesa and Chornomorsk, with the expectation of new-crop wheat exports to begin in September.

Cotton: The U.S. Labor Department shocked the marketplace Friday morning with a very strong U.S. non-farm payrolls growth figure of 528,000 in July—double the rise analysts had expected. The unemployment rate also dropped to 3.5%.

Cattle: Beef packers apparently relied heavily upon previously purchased cattle, contracted and formula-based animals to fill out their slaughter schedules during late July, hoping to put pressure on cash prices. The sizeable cash gains (around $1.50) posted this week imply that didn’t work, which in turn suggests the upward price pressure will persist through mid-August.

Hogs: Despite several pork plants granting their workers a floating holiday on Monday, this week’s preliminary hog kill reached 2.34 million head. That topped the week-ago figure by 49,000 (2.1%) and the year-ago total by 13,000 (0.6%).


Latest News

H&P report reflects larger than expected herd contraction

USDA estimated the U.S. hog herd has contracted to 73.8 million head as of Sept.1, down 1.1 million head (1.4%) from year-ago and 468,000 head smaller than the average pre-report estimate.

After the Bell | September 29, 2022

Grain, soybean futures end mixed ahead of USDA's quarterly stocks; USDA reports further hog herd contraction.

Pro Farmer's Daily Advice Monitor

Pro Farmer editors provide daily updates on advice, including if now is a good time to catch up on cash sales.

Putin to Ratify Election Results | September 29, 2022

NATO rules Nordstream breech sabotage, Ian shuts-in some Gulf energy production and today's H&P Report expected to show mild herd contraction...

Market Watch | September 29, 2022

Sharp drop in cash corn and soybean prices over the past week.

Analysts/economists keeping a close watch on major currency fluctuations

Sharp fluctuations in some of the world’s major currencies are injecting new uncertainty into the global economic outlook.