GRAINS:
Soybeans and wheat prices were able to find mixed closes Wednesday, but December corn fell to its lowest price in well over three years, pressured by a forecast for rain across the Midwest. November soybeans were up 1 1/4 cents, helped by a 0.55-cent gain in September soybean oil.
September corn closed down 6 cents and December corn was down 5 1/4 cents. September soybeans closed up 3 1/2 cents and November soybeans were up 1 1/4 cents. September KC wheat closed down 1 1/4 cents, September Chicago wheat was up 3 1/4 cents and September Minneapolis wheat was down 3 cents.
LIVESTOCK:
With packers aggressively pushing the cash hog market up over $6.00 higher Wednesday morning, it’s no wonder the lean hog complex traded higher. Even though boxed beef prices are higher, traders thus far haven’t found enough support in Wednesday’s market to comfortably allow the live cattle complex to trade higher. Once again, because the live cattle contracts traded lower, the feeder cattle contracts followed the bulk of the session, right up until the final hour of trade and managed to finish slightly higher.
