July 5, 2022
Fargo, US 69 F

Closing Market Report- 4/27/22- Soy Complex and Corn the Upside Leaders on Wednesday

The soy complex was the upside leader on Wednesday as both canola and soyoil prices surged to fresh all-time highs this morning after Indonesia broadened the scope of its export ban again to include crude palm oil. Corn was also higher as we saw a bit of bull spreading with the May and July contracts as July is two days from first notice day. Winter wheat was weaker most of the day but spring wheat, fighting for acres amid planting delays, helped pull winter wheat off it’s lows today. The stock market rebounded while crude oil traded around $102 a barrel today. Livestock were mostly weaker on the session while we saw more steady cash cattle trade 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 Mike Zuzolo of Global Commodity Analytics and Jesse Allen on today’s Market Talk below:

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