By: NATHAN STUEDLE
GRAINS:
December corn closed up 3 1/4 cents and March corn was up 2 cents. November soybeans closed up 4 cents and January soybeans were up 1 1/2 cents. December KC wheat closed up 3 1/2 cents, December Chicago wheat was up 3 1/2 cents, December Minneapolis wheat was up 3 cents.
Row crop futures were mostly higher on Wednesday in a very quiet session for the most part, with prices recovering from a brief pause in the bounce seen on Tuesday. A combination of easing harvest pressure and strong demand ideas is keeping markets well supported, although significant technical challenges await just above current prices. Outside markets leaned mostly positive, with a softer U.S. Dollar and firmer energy markets.
LIVESTOCK:
It was a dismal day for the live cattle complex as the market saw little fundamental support arise in the marketplace this week to help assure traders that they should confidently push the contracts back higher. Not to mention, the market seems to be sitting on its hands waiting for Agriculture Secretary Brooke Rollins to share more details about what the Trump administration plans to do to restore and revitalize the beef cow herd in America. Her announcement is expected to come sometime later this week. There's been nothing to develop yet in the fed cash cattle market, although it is assumed that again this week, prices will trade steady if not a little higher. Yes, packers were able to secure a sizeable volume just last week, but the fact remains that the market is only going to see supplies tighten through the remainder of 2025 and into 2026.
The live cattle complex may have traded lower, but the feeder cattle market has completely rocked back on its heels, seeming to grit its teeth until there's more clarity on what US Ag Secretary Brooke Rollins has to say. The feeder cattle complex has seen all-time, record-breaking prices within the last year as limited supplies have forced feedlots to bid more aggressively for calves and feeders. More than anything, the feeder cattle complex seems unhinged as the market is concerned that the plan could negatively affect these historic prices.
The lean hog complex continued to trade mixed as the nearby contracts need to see more immediate fundamental support before traders will confidently advance any of those contracts, but the deferred months traded higher, as traders believe that support should increase when supplies tighten in the coming months. Yes, pork cutout values were up this morning, but traders need to see more than one day's worth of higher trade before they'll feel supported.