TFM Midday Update 09-15-2022

Provided by Stewart-Peterson Inc.


  • Dec corn down 1 @ 6.81
  • Corn is trading slightly lower today despite the Biden administration reached a deal for a tentative agreement to avoid the rail strike on Friday
  • Trade was higher in the premarket and beginning of the day, but started to slip as the export sales data for the past four weeks is getting digested
  • The USDA reported an increase of 23.0 mb of corn export sales for 22/23, and last week’s export shipments totaled 16.8 mb
  • Corn export commitments now total 18 mb for 22/23 and are down 50% from a year ago


  • Nov soybeans up 4 @ 14.58
  • Soybeans were trading higher to start the day, but began to slip after wheat began to sell off
  • Net export sales came in higher than trade expectations for 22/23 at 5.755 million tonnes, but there are concerns that business will slow down with US beans now the most expensive
  • The USDA reported an increase of 31.0 mb of soybean export sales for 22/23 and an increase of 1.1 mb for 23/24
  • Last week’s export shipments totaled 13.8 mb and export commitments now total 16 mb for 22/23 and are up 13% from a year ago


Like what you’re reading?

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



  • Dec wheat down 16 @ 8.57, Dec KC down 15 @ 9.32, & Dec MNPLS down 6 @ 9.33
  • Wheat is leading the way lower for the grain complex today as export sales revealed nothing exciting and both the equity and commodity markets are seeing some selling
  • Wheat supplies remain tight both for the US and the world, but the US is priced at a premium
  • Drought in the southwestern US plains, Europe, Argentina, and war in Ukraine will keep wheat supplies small
  • The USDA reported an increase of 8.0 mb of wheat export sales for 22/23, and last week’s export shipments totaled 24.9 mb


  • Oct LC up 1.050 @ 145.400 Sep FC down 0.525 @ 179.450
  • Live cattle are higher this morning, while feeders are lower as grains move higher
  • Cash business was quiet yesterday with some trade at a dollar higher in Nebraska, but the volume was very light, and asking prices in the South are between 143 and 144
  • The Biden administration indicated that a deal was reached with the railroad, avoiding a strike
  • Net export sales for beef were 15,100 mt for 2022 and 900 mt for 2023
  • Choice cuts down 3.19 and select down 3.47
  • Cattle slaughter projected at 127K
  • CME Feeder Cattle Index for 9/14: down 0.09 @ 179.97


  • Oct hogs up 1.650 @ 96.350 & Oct pork cutout up 1.575 @ 104.975
  • Hogs are moving higher again today with a gain in the cutout of 2.11 with bellies leading the way gaining 6.02
  • Net sales for pork were 25,100 mt for 2022, and net exports of 23,900 mt were primarily to Mexico, Japan, and China
  • While cash has been trending lower to meet futures, futures have started trending higher with the cutout finally showing signs of life
  • National Direct Afternoon report fell 1.15
  • Hog slaughter projected at 481K
  • CME Lean Hog Index for 9/15: down 0.09 @ 97.58


Amanda Brill

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

back to TFM Market Updates