Closing Market Report- 5/27/22- Wheat and Corn Lead Grains Higher Into Holiday Weekend


From the open on Friday morning, we saw Minneapolis wheat and corn lead the grain markets mostly higher into the Memorial Day weekend. Minneapolis and Chicago wheat saw double digit gains with Kansas City wheat up moderately. The corn market has double digit strength as well as there are plenty of worries about lost corn and spring wheat acres in the Northern Plains. Spot July soybeans hit a new contract high before backing off as we saw a bit of spreading between old and new crop beans on Friday. Livestock traded relatively quiet and mixed in typical pre-holiday weekend trading action.

Farm and Ranch Director Jesse Allen has our closing report:

Also, more analysis with Chad Hart from Iowa State University and David Widmar from Agricultural Economic Insights (AEI) on today’s Market Talk below with Jesse Allen: