Closing Market Report- 8/13/21- Soybeans Lead Grains Mostly Higher to Wrap Week

December corn ended down 1/4 cent, the only new-crop contract in the grain sector with a lower close. November soybeans were up 24 cents, helped on Friday by the seventh consecutive export sale announcement of new-crop soybeans by USDA. USDA reported 16.6 million bushels (452,000 mt) of new-crop soybeans sold for export, 4.6 million bushels of which were for China and the rest were for unknown destinations.

Wheat continues to reflect the bullish production and stock ideas from the August WASDE report with U.S., Paris and Black Sea futures markets all scoring new highs on Friday. We saw wheat futures moderately higher as well on the day.

There was a bit of pressure in the livestock market on the day Friday as cattle were quietly mixed to lower. Hogs showed a little strength but there is a sharp disconnect between expiring August futures and the October contract. It will be interesting to see how that contract moves once we get into next week.

Farm and Ranch Director Jesse Allen has our closing report here: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406

Also, more analysis with Jesse Allen and special interviews on today’s episode of Market Talk below: