August 9, 2022
Fargo, US 73 F

Closing Market Report- 8/5/22- Corn Has Solid Day to Wrap the Week

In a fairly two-sided, choppy trading day, we saw the corn market finish with some decent strength to wrap the week. Soybeans saw some spread trading with meal seeing profit taking and soybean oil moving higher on the rally in crude oil. Wheat fell victim somewhat to the higher U.S. dollar and a better than expected jobs report this morning. Livestock had a solid day with green on the screen in both cattle complexes and the lean hog market. Traders are watching potential rains in the western Corn Belt this weekend and looking ahead to next Friday’s USDA WASDE report.

Farm and Ranch Director Jesse Allen has our closing report:

Also, more analysis on today’s episode of Market Talk with Naomi Blohm of Total Farm Marketing joining Jesse Allen. We also discuss crop stress and conditions in NW Iowa, Eastern South Dakota, SW Minnesota and NE Nebraska with Wally West of Syngenta.

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