July 6, 2022
Fargo, US 82 F

Closing Market Report- 3/23/22- Soybeans Lead, Wheat Sees More Profit Taking

The wheat markets continued to exhibit huge volatility, giving up early gains for the second straight day. Soybeans were very firm and solidly above $17 in the May contract for the first time in over a month, finishing above $17 for the first time in years. Soybean meal set a new high in July and bean oil was sharply higher on the heels of a $5 gain in crude oil futures. Corn was largely caught in the middle as traders are eyeing next week’s USDA report closely. Lean hogs surged higher and cattle had a good day as well on Wednesday.

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

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

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