Market Closing Summary

As the market closed, the following trends were noted:

• July corn decreased by 2¾¢, settling at $4.41¼ per bushel.
• July soybeans fell by 7½¢, concluding at $10.60¾ per bushel.
• Wheat also saw declines:
  • July CBOT wheat down 7¢ at $5.83½ per bushel.
  • September KC wheat dropped 7¾¢, ending at $5.78¾ per bushel.
  • September Minneapolis wheat saw a decrease of 2½¢ to $6.56¾ per bushel.

Karl Setzer, a partner with Consus Ag Consulting, noted, “Collective trade was evident as futures fluctuated around unchanged levels. Fresh news was minimal heading into the weekend, alongside lower trading volumes following Thursday’s holiday.” He emphasized that weather and geopolitical developments remained the primary market drivers.

Livestock Market Trends

The livestock market exhibited mixed results:

• August live cattle decreased $1.85 to $209.82 per hundredweight (cwt).
• August feeder cattle were $1.72 lower, settling at $302.45 per cwt.
• August lean hogs increased by 45¢, reaching $112.45 per cwt.

Crude Oil and Stock Market Overview

Before 3 p.m. CT, August crude oil rose by 58¢, reaching $74.08 per barrel.

In the stock market, September S&P 500 futures dropped 23 points, while the September Dow futures also fell by 28 points. The September U.S. Dollar Index was down 133 points, indicating a tightening financial landscape.

Morning Trade Insights

9:34 a.m. CT Market Overview

At the start of the trading day, the following trends were observed:

• July corn remained unchanged at $4.44 per bushel.
• July soybeans saw a slight decrease of 1½¢, settling at $10.66¾ per bushel.
• Wheat opened lower, with July CBOT wheat down 1½¢ at $5.89 per bushel.

Setzer noted that the mixed market tone continued with corn and soybeans holding steady, while wheat faced declines. “Much of the morning trade appears to be consolidation following a choppy week,” he added.

Continued Market Updates

As the day progresses, the agricultural and livestock markets will continue to be influenced by weather conditions and geopolitical factors affecting trade dynamics. Keeping an eye on these developments is crucial for stakeholders in the industry.