July 6, 2022
Fargo, US 82 F

Closing Market Report- 3/31/22- New Crop Corn and Spring Wheat Higher; Soy Complex Down Hard

After the release of Thursday’s Quarterly Grain Stocks and Prospective Plantings reports, we saw soybeans down hard on a record acreage estimate of 91 million and higher than expected ending stocks. December corn was up 27 3/4 cents and September Minneapolis wheat was up 9 cents, both benefiting from USDA’s lower-than-expected planting estimates on Thursday. The rest of the grain sector finished lower, along with a sharp drop in crude oil prices. We also saw lean hogs and cattle futures lower across the board on Thursday.

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

Also, more analysis with Bryan Doherty of Total Farm Marketing and Jesse Allen on today’s Market Talk below:

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