Corn: March corn rose 3 cents to $6.53 1/2. Corn futures ended firmer following two-sided, narrow-range trading, supported by stronger than expected export numbers. Gains were limited by bearish outside markets, including a stronger dollar and weaker crude oil.
Soybeans: January soybeans fell 8 3/4 cents to $14.73 1/2. January soymeal fell $4.80 to $455.30. January soyoil rose 27 points to 63.82 cents. Soybeans fell as recession concerns sent crude oil and U.S. equities lower and overshadowed stronger than expected exports.
Wheat: March SRW wheat rose 8 cents to $7.57 1/4, the contract’s highest close since Dec. 2. March HRW wheat gained 10 1/4 cents to $8.60 1/2. March spring wheat rose 1 1/2 cents to $9.18 3/4. Signs of improvement in export demand supported prices.
Cotton: March cotton fell 34 points to 81.03 cents. Futures eased amid pressure from dollar strength and weakness in U.S. equities and crude oil. USDA reported net weekly U.S. cotton sales of 18,600 running bales (RB) for 2022-23, down from 32,600 MT the week prior.
Cattle: February live cattle fell 85 cents to $154.85, the lowest close since Dec. 8. January feeder futures sank 55 cents to $183.05. Live cattle were pressured by further indications of a short-term pullback in cash prices. Choice beef cutout values rose $4.23 to $254.30 on movement of 108 loads.
Hogs: February lean hogs fell $1.75 to $81.65, the contract’s lowest close since Oct. 11. Hog futures tumbled as bearish technicals and demand concerns outweighed signs of a bottom in the cash market. Friday’s CME lean hog index is expected to rise 20 cents to $81.88, the third straight daily gain. Pork cutout values rose $1.22 from an 11-month low to $85.49 on strong movement of 321 loads.