Closing Market Report- 6/8/22- Soybeans the Upside Leader; Cattle Strong on Wednesday


Soybeans and the soy complex took over bullish leadership of the grain and soy markets early on Wednesday, surging to new contract highs in spot July soy above $17.50, with November also scoring a new high before fading back. Soybean oil was also one of the largest percentage gainers today on the back of a surge in energy markets. Corn was along for the ride on some threatening long-term forecasts for the Corn Belt and the same was the case for the wheat markets. Cattle futures found a lot of buying strength mid session and surged while hogs fell back a little bit at the close.

Farm and Ranch Director Jesse Allen has our closing report:

Also, more analysis with Mike Zuzolo of Global Commodity Analytics and Jesse Allen on today’s Market Talk below: