July 6, 2022
Fargo, US 82 F

Closing Market Report- 6/23/22- Ugly Day in Ag Trade on Thursday

The incredible sell-a-thon that hit the grain and soy markets continued Thursday, with previously firm soy meal joining the “any port in a storm” type selling. The Federal Reserve says without compelling evidence that inflation has turned the corner, they will continue to aggressively raise rates and that has sunk ag crop markets. Soybean oil closed lower for the tenth straight day and Kansas City July wheat has plunged $3.80 in the past month. Feeder cattle were the only bright spot of the day with the lower corn prices, feeders moved higher.

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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