July 6, 2022
Fargo, US 81 F

Closing Market Report- 6/21/22- Red Across the Grain Markets on Tuesday

A cooler weather pattern in the 6-10 day forecast appears to be the biggest reason behind the bearish day in the grain trade on Tuesday. As we came back from the holiday weekend, grains accelerated lower with Kansas City wheat leading to the downside. Harvest pressure in wheat is also a factor as well as worries about more lockdowns in China as they see surging COVID cases. Funds ultimately took a lot of risk and long positions off the table today even though longer range forecast call for hot and dry weather ahead. Feeder cattle were strong on the day today as well as front month hogs. Live cattle were mixed to mostly slightly lower on Tuesday.

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

Also, more analysis with Bill Biedermann of AgMarket.net and Jesse Allen on today’s Market Talk below:

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BASF-Ken Deibert, Dan Melaas, Nick Salentine, Chad Fyre