Closing Market Report- 12/16/21- Soybeans, Soy Oil and Wheat Lead Grains Higher


Among soy products, soybean oil was up sharply, helped by Thursday’s announced sale of 20,000 metric tons to India. That in turn helped the soybean market higher on the day. All three U.S. wheats traded higher, correcting part of Wednesday’s unusually large sell-off. Corn was firm as it continues to fight overhead resistance at $6.00. Thursday’s U.S. Drought Monitor showed a slight increase of drought in the southwestern U.S. Plains. Strong weekly export sales were seen as well to help grains and livestock along with positive reaction to the Fed comments made on Wednesday.

Farm and Ranch Director Jesse Allen has our closing report:

Also, more analysis with Jesse Allen and Kent Beadle from CHS Hedging on today’s Market Talk below: