By: NATHAN STUEDLE
GRAIN MARKET SUMMARY
Grain futures finished mixed Thursday, with soybeans lower while corn and wheat managed modest gains.
Corn futures closed about ½ to 1½ cents higher. The market stabilized following Wednesday’s sharp USDA-driven selloff, with some bargain buying helping prices recover slightly. However, the unexpectedly large September 1 corn stocks figure continues to hang over the market and is likely to remain an important source of resistance.
Soybeans finished 7 to 9 cents lower. The market remained under pressure from uncertainty surrounding Chinese demand and the continued 10% retaliatory tariff on U.S. soybeans. Traders are also weighing China’s commitment to purchase at least 25 million metric tons of U.S. soybeans annually through 2028 against competition from South American supplies.
Wheat futures ended 3¾ to 7 cents higher. The rebound followed Wednesday’s sharp losses and appeared to be driven largely by short covering and bargain buying after the recent decline.
Overall, Thursday was a stabilization session for corn and wheat, while soybeans remained under pressure from demand and trade concerns.
LIVESTOCK MARKET SUMMARY
Livestock futures finished higher Thursday, although gains were more moderate than earlier expectations.
Live cattle closed about 37 to 67 cents higher. The market extended its recent rebound but struggled to build strong momentum, with traders continuing to monitor cash cattle trade, beef demand and broader economic conditions.
Feeder cattle posted stronger gains, finishing about $1.45 to $2.45 higher. Lower feed-cost expectations following Wednesday’s sharp break in corn continued to provide support, while the broader cattle complex remained firm.
Thursday’s livestock trade was generally positive, but less explosive than Wednesday’s rally.
The bottom line: cattle remained higher, with feeders again outperforming live cattle, while the grain markets were mixed as traders continued digesting Wednesday’s USDA reports.