Closing Market Report- 5/19/22- Soybeans and Meal Higher, Wheat Under Pressure on Thursday


Thursday’s trade saw soybeans and soybean meal move sharply higher with all three wheat classes under pressure once again as we saw more correction from the recent moves to the upside. The corn market was essentially caught in the middle and hung around unchanged all day long. Weather remains a bullish factor for corn and wheat and neutral for soybeans as we watch more storms fire in the Midwest this afternoon to slow planting progress. The live cattle market had a decent day today with feeder cattle lower as we square positions ahead of tomorrow’s Cattle on Feed numbers. Lean hogs finally saw a day of lower trade on Thursday.

Farm and Ranch Director Jesse Allen has our closing report:

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