July 6, 2022
Fargo, US 78 F

Closing Market Report- 4/7/22- Soybeans and Soybean Oil Up Sharply; Wheat Under Pressure

On Thursday, we saw the soybean market along with soybean oil sharply higher. Rumors of China back in the soybean market as well as a slightly lower CONAB soybean number for Brazil helped moved the market higher today. Soybean oil was higher despite crude oil lower again around $95 a barrel. Corn was up slightly ahead of the April WASDE report from USDA on Friday while wheat was under pressure with late selling being seen to drag all three wheat markets lower. Cattle and hogs were mixed on the session.

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 Bryan Doherty of Total Farm Marketing on today’s Market Talk below:

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