Corn, Soybeans, and Wheat Prices Surge on Market Close

At the Friday market close, July corn experienced a significant surge, increasing by 8¼¢ to reach $4.97 per bushel. The rise in corn prices was mirrored by May soybeans, which also saw a notable increase of 13¾¢, reaching $10.42¾ per bushel.

Karl Setzer, a partner with Consus Ag Consulting, commented on the market trends, stating, “Short covering kept corn, soybeans, and wheat supported during [Friday’s] session. The lack of a bearish surprise in [Thursday’s] updated balance sheets and oversold technical indicators led to the price recovery, but now we are already seeing contracts hit short-term overbought levels to limit fresh buying.”

Setzer also touched on the latest supply and demand reports, noting that the world soybean reserve is more adequate but still tighter than average. While this may not be enough to attract active buyers back to the market, it has helped diminish selling interest, which is seen as a positive outcome.

In addition to the surge in corn and soybean prices, May wheat markets ended the day on a strong note. CBOT wheat was up 17¾¢ at $5.55¾ per bushel, while KC wheat rose by 10¼¢ to reach $5.83¼ per bushel. Minneapolis wheat also experienced an increase of 13¢, reaching $6.15 per bushel.

Furthermore, livestock markets also saw positive movement, with June live cattle up $1.60 at $196.80 per hundredweight (cwt), May feeder cattle rising by $3.40 to $278.70 per cwt, and June lean hogs increasing by 15¢ to $93.32 per cwt. Shortly before 3:00 p.m. CT, May crude oil was up $1.51 at $61.58 per barrel.

Market indicators showed strong performance across the board, with June S&P 500 futures up by 100 points and June Dow futures rising by 714 points. On the currency front, the June U.S. Dollar Index dropped by 870 points.

Published: 3:20 p.m. CT

Corn Starts 4¢ Higher on Friday, April 11, 2025

Just after 9:00 a.m. CT, July corn saw a 4¼¢ increase, reaching $4.93 per bushel. Similarly, May soybeans experienced a slight uptick, rising by ¾¢ to $10.29¾ per bushel.

Angie Setzer, another partner with Consus Ag Consulting, provided insights into the market dynamics, highlighting the USDA’s adjustment to U.S. corn exports, which resulted in a decrease in ending stocks and pushed prices to their highest level since February. Soybeans also received positive news with a minor reduction in their ending stocks outlook, while wheat saw a surprise increase in its carryout due to reduced exports.

May wheat markets showed a stronger trade at the start of Friday morning, with CBOT wheat up 14¼¢ at $5.52¼ per bushel, KC wheat climbing by 14¼¢ to $5.72¼ per bushel, and Minneapolis wheat increasing by 11¾¢ to $6.13¾ per bushel.

On the livestock front, June live cattle experienced a slight decrease of 37¢, settling at $195.57 per hundredweight (cwt), while May feeder cattle dropped by $1 to $276.30 per cwt. June lean hogs saw an increase of 40¢, reaching $93.57 per cwt.

May crude oil prices were up by 18¢ at $60.25 per barrel. Market indicators showed positive performance, with June S&P 500 futures up by 28 points and June Dow futures rising by 177 points. The June U.S. Dollar Index fell by 895 points.

Published: 9:21 a.m. CT