Commodity prices remain high

The Ag Price Received report for December 2022 has been released, and it's of little surprise that values were up on the year. Cash corn averaged $6.58 for the month, $1.11 higher than in December 2021.

Soybeans averaged $14.40 for the month, up $1.90 from December 2021. Milling wheat averaged $8.98, 39 cents higher on the year. Beef cattle averaged $154 per hundredweight in December 2022, $17 higher than in December 2021. Hogs averaged $62.50, which was $6 higher than a year ago.

One of the most debated topics in the commodity market remains U.S. export performance. The U.S. Department of Agriculture (USDA) projects yearly corn exports of 1.925 billion bushels. If correct, this will be the lowest amount of U.S. corn exports in five years. While this seems negative, the ...