Closing Market Report- 7/13/22- Hot Inflation Numbers, Corn and Beans Higher, Wheat Lower


The Consumer Price Index out this morning showed inflation at a 41 year high of 9.1%, up from analyst expectations. That initially weighed on the grain and livestock trade before buying came back in. The green numbers held in corn, soybeans and soybean meal today while wheat fell lower at the close. Funds have been good buyers of corn and beans, but net sellers of 5,000 bean oil contracts. Weather ahead remains bullish for the western and central crop areas, but there are some storms projected for the eastern belt. Feeder cattle strength continued on the day today along with lean hogs while live cattle followed behind.

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. The show also features our Midday Commentary in segment one with Arlan Suderman of StoneX and a conversation about soybean cyst nematode (SCN) with Greg Tylka from Iowa State University.