Grain Futures Soar, Livestock Markets Struggle Amid Trade and Yield Uncertainty

Grain futures closed higher on Tuesday, led by soybeans, which surged past the $13 mark. November soybeans jumped 29¾ cents to $13.17¾, with traders citing support from a new sale of 136,000 metric tons of U.S. soybeans to China for the 2026-27 marketing year.

Corn and wheat also rose, with December corn gaining 8¼ cents to $5.46 and March adding 8 cents to $5.60¼. The USDA's yield expectations continue to be a point of contention in the market.

Livestock futures were mostly lower, however, with cattle and feeder cattle giving back Monday's gains. Lean hogs finished narrowly mixed, slipping 2 cents to $83.65 for October and losing 15 cents to $74.00 for December.