TFM Midday Update 07-29-2022

Provided by Stewart-Peterson Inc.



  • Sep corn up 6 @ 6.21
  • Starting Monday, the Midwest will have 2 weeks of warm and dry conditions
  • The corn crop is probably far enough along that weather is not as much of a concern for yield as it is for soybeans
  • The European Union may end up being a net buyer of corn instead of a net exporter due to struggling with heat and dryness that has affected their corn crop
  • Brazil’s corn harvest is on track for record production
  • September corn on China’s Dalian exchange is around the equivalent of $10.05 per bushel


  • Sep soybeans up 45 @ 15.02
  • Weather is the main driving factor in the soybean market right now
  • Domestic soybean crush margins are very firm which is incentivizing processors
  • There was a bill passed in the house that will allow for an increase in biofuel demand which could help soybean oil
  • Chinese Dalian soybean oil and palm oil futures are trading higher


Like what you’re reading?

Sign up for our other free daily TFM Market Updates and stay in the know!



  • Sep wheat up 3 @ 8.20, Sep KC up 2 @ 8.92, & Sep MNPLS up 1 @ 9.29
  • One vessel may be shipped out of Ukraine today but overall there is concern about risk – some vessel owners may not want to ship even if they can get insurance
  • News outlets reported new missile attacks north of Kyiv on Thursday
  • The spring wheat tour found one of the highest yields in the US since 2015 at 49.1 bpa
  • Ukraine has harvested 29% of their winter wheat
  • There is concern about deteriorating quality of grain in some of the vessels that have been sitting in Ukraine since the war began


  • Aug LC up 0.075 @ 136.250 & Aug FC unchanged @ 177.425
  • High priced feed and drought are both affecting the need to move cattle
  • Supply is still expected to eventually tighten
  • Recession remains a concern for demand as GDP fell for the 2nd consecutive quarter
  • Choice cuts down 0.22 and select down 1.00
  • Cattle slaughter projected at 120K
  • CME Feeder Cattle Index for 7/28: up 1.91 @ 172.55


  • Aug hogs up 1.600 @ 120.725 & Aug pork cutout unchanged @ 124.550
  • China continues to purchase on a weekly basis
  • As inflation and food prices increase, consumers may purchase more pork (vs beef)
  • Cutouts were 2.00 higher, but there was a large decline in cash
  • National Direct Afternoon report declined 10.86
  • Hog slaughter projected at 439K
  • CME Lean Hog Index for 7/29: up 0.85 @ 120.58


Brandon Doherty

Sign up to get daily TFM Market Updates straight to your email!

back to TFM Market Updates