More selling in grain markets | Friday, July 1, 2022

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 City wheat is 40 cents decrease, and September Minneapolis wheat is 39 cents decrease.    

Livestock costs are greater with reside 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 reside cattle. Live cattle provides look to be on the tight aspect 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.  

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

Weather forecasts are calling for rain in 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. Once we get previous the Fourth of July vacation, the market can pay additional shut consideration to the climate maps and the temperatures as we are going to begin to see components of the U.S. head into the essential pollination season. 

Grain costs principally decrease this morning: 8:45 a.m.

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 City wheat futures are 3 cents decrease, and September Minneapolis wheat futures are 5 cents decrease.

Livestock costs are greater this morning. Live 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 start out off right this moment’s commerce.

Choppy motion in the grain markets for Friday after the USDA launched their Acreage report and Quarterly Grain Stocks report yesterday. Overall, the report was impartial to pleasant on soybeans, however the merchants didn’t commerce it that manner. Weather right this moment is non-threatening however we might want to get some moisture quickly in a couple of space.

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 can take a serious climate occasion this summer time to get the surface cash to come back again into the grain costs. Until that occurs, it looks like rallies will probably be arduous to maintain. 

In the livestock markets, reside cattle proceed to battle between recession fears and pleasant fundamentals. Cash is transferring greater, particularly in the north, however we lack the surface investor to push futures greater. Feeder cattle are pushing greater primarily from the decrease corn costs over the previous two weeks. 

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

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

Editor’s Note: 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 this can be a appropriate funding. Past efficiency – whether or not precise or indicated by simulated historic exams of methods – shouldn’t be indicative of future outcomes. Trading recommendation displays good-faith judgment at a particular time and is topic to vary with out discover. There isn’t any assure the recommendation given will consequence in worthwhile trades.

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