Grains:
December corn closed up 6 1/4 cents per bushel at $4.29 1/2 and March Corn closed up 6 cents per bushel at $4.47 and November soybeans closed up 7 cents at $10.49 3/4 and January soybeans were up 7 1/2 cents at $10.69 1/4. December KC wheat closed up 9 1/2 cents at $5.23 1/2, December Chicago wheat was up 9 cents at $5.34 and MIAX December Minneapolis wheat was up 0.03 cents at $5.7450.
Grain and soy markets rose in unison Tuesday with wheat leading the way on demand. Several Southeast Asia importers are said to have opted for mostly U.S. wheat in their tenders. After a record August crush and the lowest bean oil stocks in 8 months, the soy complex rose. Corn finished strong despite the advancing harvest, which is likely to lead to storage challenges.
Livestock
It's been a mostly lower-waning morning for the livestock complex as most of the contracts are trading lower into midday Tuesday. More than anything, traders simply don't seem confident enough to push the contracts higher in any of the three livestock markets, and there's currently not enough fundamental support to help them do so.
It's been a lower-trending day thus far for the live cattle complex as the market continues to struggle to find what direction is best for the near term. It's been a back-and-forth, whiplash kind of trade for the live cattle complex since Friday when the contracts broke sharply lower, but then on Monday, traders aggressively pushed the contracts higher, and now the contracts are somewhere in between the two mindsets. The market seems to be at odds with itself as traders know that the long-term fundamentals of the market are strong, but at the same time, it's fully expected that boxed beef prices will continue to wane in the upcoming weeks and that fed cash cattle prices could trade lower as well until holiday demand sees retailers more aggressive again.
The lean hog complex is trading mixed into Tuesday's noon hour as the market simply doesn't seem to possess enough support right now to push beyond its current resistance levels.