Closing Markets for Wednesday, July 3, 2024



Once again it was soybean oil that was the bullish leader, rising to a sixth straight higher close. Soybeans surged as well, with November soybeans rising more than 25 cents above Monday’s contract low. Wheat and corn, in quiet trade, were mixed to mostly lower ahead of Thursday’s Independence Day holiday. December corn closed down 1 3/4 cents per bushel, November soybeans were up 8 1/2 cents per bushel. September KC wheat finished down 8 3/4 cents per bushel, September Chicago wheat was down 7 cents per bushel and September Minneapolis wheat closed down 8 1/4 cents.


Both the live cattle and feeder cattle contracts traded higher as the market anxiously waits to see what happens this week in the cash sector. Meanwhile, the lean hog complex was mixed as traders juggle the market’s varying fundamental signals.