By: NATHAN STUEDLE
GRAIN MARKET SUMMARY
Grain markets finished mostly lower Wednesday, with wheat taking the biggest hit.
Corn futures were moderately lower. September corn finished at $5.07¾, down 3¼ cents, while December corn closed at $5.27¾, down 5¾. March was also down about 5¾ cents.
Soybeans were weaker as well. September beans finished at $12.95¼, down 7¼ cents, while November closed at $13.09½, down 6¾. January beans were down 6½ cents. Soybean meal bucked the trend, with nearby contracts gaining roughly one to two dollars a ton.
The sharpest losses came in wheat. Chicago September wheat dropped 19 cents to $7.11¼, with December down 18¼ at $7.28¾. Kansas City hard red winter wheat also moved lower, with December losing 12¾ cents to $8.06¼.
So, a broadly softer grain trade Wednesday, led by double-digit losses in wheat, while corn and soybeans posted more modest declines. Wheat remains especially sensitive to the Black Sea situation, which has recently injected considerable volatility into that market.
LIVESTOCK MARKET SUMMARY
Livestock futures were mixed Wednesday, with feeder cattle higher while nearby live cattle and lean hogs moved lower.
October live cattle finished at $215.85, down $1.17, while December lost 75 cents to $218.47. February was down just 12 cents, and the deferred contracts were essentially steady to slightly higher.
Feeder cattle were the bright spot. September feeders gained 82 cents to $329.70. October added 37 cents, while November was 90 cents higher at $321.35. Gains strengthened farther out, with several deferred contracts finishing more than a dollar higher.
Lean hogs were lower across most of the board. October hogs dropped $1.17 to $83.07, December lost 45 cents, and February was down 67 cents. Summer contracts also finished lower.
So, pressure in the nearby live cattle and hog markets Wednesday, but feeders went the other direction and closed solidly higher across the board.