Closing Market Report- 9/29/21- Grains Mostly Higher Ahead of USDA Reports

On Wednesday, most grain markets were higher ahead of Thursday’s USDA reports and the end of the month and quarter. December corn closed up 6 1/2 cents Wednesday, taking back all but 1/2-cent of Tuesday’s risk-off selling, related mostly to concerns in the financial markets. Other grains defied Wednesday’s higher U.S. dollar and also closed higher, except for a 3 3/4-cent loss in December Minneapolis wheat. That might have been a case of some position squaring and profit taking ahead of the Small Grains Summary from USDA tomorrow that is anticipated to be bullish for spring wheat. Both cattle and hogs markets were quietly mixed on the day with not a lot of fresh news.

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

And more analysis with Jesse Allen and Mike Zuzolo of Global Commodity Analytics on today’s episode of Market Talk below: