TFM Midday Update 09-01-2022

Provided by Stewart-Peterson Inc.


  • Sep corn down 11 @ 6.63
  • Corn is trading lower after trying and failing to rally back from lows in the pre-market
  • Slow export demand is putting some pressure on corn with Ukrainian offers said to be $45/mt below US offers from the Gulf
  • Domestically, ethanol production fell by 1.7% last week to 970,000 barrels per day as seasonal maintenance slows production
  • Weather is forecast to be hot and dry over most of the Corn Belt over the next two weeks


  • Sep soybeans down 24 @ 14.84
  • Soybeans are lower this morning as concerns remain over China’s economy where new lockdown measures are being put in place with the latest city shut down being Chengdu
  • The USDA reported that 396,000 mt of soybeans were sold to unknown destinations for 22/23
  • The USDA is having technical problems releasing export sales and will not have any export sales reports released until September 15
  • Crude oil is lower, along with heating oil and palm oil, putting pressure on bean oil


Like what you’re reading?

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



  • Sep wheat down 14 @ 7.95, Sep KC down 13 @ 9.11, & Sep MNPLS down 23 @ 8.993
  • Wheat is lower after rallying impressively yesterday, and remain in their sideways trading pattern that has been in place for the past seven weeks
  • The higher dollar and general recession fears are keeping wheat from moving higher despite tight global supplies
  • Ukraine continues to export grains, but so far, only 1 mmt of wheat has left their ports
  • Concerns remain over Ukraine’s nuclear plant where Russian shelling again shut down power to some reactors and relied on diesel generators to keep them running


  • Aug LC up 0.425 @ 143.000 & Sep FC up 1.325 @ 183.775
  • Both live cattle and feeders are higher despite lower boxed beef and lower cash
  • Cash traded around 141 yesterday, a dollar lower than last week, while northern dressed trade was done at 128, 5 dollars lower than last week
  • Feeders are higher with lower grains and live cattle are moving slightly higher in sympathy
  • Choice cuts down 1.45 and select down 1.94
  • Cattle slaughter projected at 126K
  • CME Feeder Cattle Index for 8/31: up 0.04 @ 183.04


  • Oct hogs down 0.600 @ 90.925 & Oct pork cutout down 0.300 @ 101.375
  • Hogs are lower today following lower cash, but finally some life in the cutout, which rose 1.03
  • Typically, higher cash has been seen on Tuesday’s and Wednesday’s, but the upcoming holiday has reduced the need for packers to be aggressive
  • Technically, the gap on the Oct chart at 89.75 likely needs to be filled before hogs move higher
  • National Direct Afternoon report declined 2.02
  • Hog slaughter projected at 476K
  • CME Lean Hog Index for 9/1: down 1.74 @ 107.62


Amanda Brill

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

back to TFM Market Updates