July 6, 2022
Fargo, US 74 F

Closing Market Report- 6/16/22- Strength in Grains on Thursday; Stock Market Sells Off

Grain and soy markets, except for soybean oil, surged to strong gains on Thursday, while bean oil was again pulled lower by the faltering palm oil market and product spreading, closing lower for the sixth consecutive day. Once again, the sharply lower equities market, fueled by the largest interest rate increase since 1994, moved opposite of raw commodity markets on recession fears.

One has to wonder if stocks and commodities may divorce themselves from one another as we trade more of a weather market in grains. Livestock trade was mixed in cattle and up moderately in hogs with strong weekly export sales for hogs today.

Farm and Ranch Director Jesse Allen has our closing report: https://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1406

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

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