July 6, 2022
Fargo, US 82 F

Closing Market Report- 4/18/22- Grains and Oilseeds Soar; Corn Near All Time Highs

The grain and oilseed markets had an impressive day on Monday with double digit gains throughout the trade. There appears to be little hope of any sort of cease fire in the Russia-Ukraine war, with Russia continuing to lob missiles at Ukrainian cities over the weekend. That, coupled with some challenging planting weather in the U.S. and concerning dryness in Brazil’s safrinha corn belt, and solid soy demand, is giving the markets strong support to begin the new week.

Corn is nearing all time record highs set back in 2012 as we start to see not only over $8 in front month futures, but some $8 cash bids across the country. Wheat remained the leader on the day as we also set new contract highs in soybean oil, as crude oil moved back higher today near $110 a barrel. Lean hogs saw some bull spreading and had a strong day while cattle futures moved lower to start the week.

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 John Heinberg of Total Farm Marketing on today’s Market Talk below:

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