After the Bell | September 25, 2023

After the Bell | September 25, 2023 SRW wheat strength led the grain complex higher into the close. Soybeans found support from meal futures, though soyoil weakness capped gains.

After the Bell
After the Bell
(Pro Farmer)

Corn: December corn rose 4 cents to $4.81 1/4, ending near the session high. Corn futures continued in narrow, rangebound trade with early pressure stemming from soybean futures and unsupportive outside markets.

Soybeans: November soybeans rallied 2 cents before ending the day at $12.97 3/, near the session high. December soybean meal futures rallied $4.00 and settled at $389.80, while December soyoil fell 214 points and closed at 57.48 cents. Soybeans traded lower for most of the session though short covering surged prices higher into the close.

Wheat: December SRW wheat rose 9 1/2 cents at $5.89 and near the session high. December HRW wheat gained 3 1/4 cents to $7.14 1/2 and closed nearer the session high. Prices hit a two-year low early on. December spring wheat futures fell 1 1/2 cents to $7.69. Short covering was featured in the wheat futures markets today.

Cotton: December cotton rose 226 points to 88.17 cents--the highest closing price since Sept. 12. December cotton futures shrugged off last week’s losses to post a sizeable gain, with bulls capturing an increased technical position.

Cattle: October live cattle fell 10 cents to $186.975 and nearer the session high. October feeder cattle lost 32 1/2 cents at $258.825 today. Prices closed nearer the session high and hit a two-week low early on. It was a general risk-off trading day in the marketplace and that limited buying interest in the cattle futures markets.

Hogs: October lean hogs futures closed flat on the day at $81.525 despite a rise in the deferred contracts. Lean hog futures pivoted around unchanged for most of the session despite a surge in wholesale pork prices.