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Daily Commodity Wire
Closing Report · Thu Oct 29

Here's what pushed the markets today.

What matters today

  • China has bought 20.9 million tons of U.S. soybeans so far in 2026, 84% of the 25 million tons it pledged for the year (4.1 million tons to go...
  • Beans lower: Soybeans Market Brief: Futures Ease, Black Sea Flows Pressure US Exports

Futures prices are off while we set up a licensed price feed. CME Group shows free delayed quotes on its own site. CME Group quotes. Futures settlements are the official closing prices as printed by USDA (Market News reports for grains and cattle; the Risk Management Agency for dairy).

Grains
Corn
4.51¾ /bu  Wed close: ▲ 3¢ (+0.67%)
Dec Corn · official close Wed Oct 28
 
Soybeans
12.24½ /bu  Wed close: ▼ 4¾¢ (-0.39%)
Nov Beans · official close Wed Oct 28
In the news that day: Soybeans Market Brief: Futures Ease, Black Sea Flows Pressure US Exports.
 
Wheat
5.99 /bu  Wed close: ▼ 11¼¢ (-1.84%)
Dec Wheat · official close Wed Oct 28
 
KC Wheat
6.43 /bu  Wed close: ▼ 7½¢ (-1.15%)
Dec KC Wheat · official close Wed Oct 28
 
Livestock
Live Cattle
227.325 /cwt  Wed close: ▼ $3.525 (-1.53%)
Dec Cattle · official close Wed Oct 28
Cash: fed steers (live): $227.08/cwt (Oct 26), up $2.89 from last week, $10.81 below a year ago, $49.04 above the 5-year average.
Futures-based (USDA LRP, Oct 28): Feb $230.53 (-$3.33 wk), Apr $238.86 (-$2.63 wk), Jun $235.40 (-$2.48 wk), Aug $229.88 (-$2.40 wk).
In the news that day: Cattle futures fall on technical selling and slow cash trade.
 
Feeder Cattle
346.75 /cwt  Wed close: ▼ $3.275 (-0.94%)
Nov Feeders · official close Wed Oct 28
Cash: Feeder steers, 700-800 lb (Oklahoma City): $362.64/cwt (Oct 26), up $9.33 from last week, $36.07 above a year ago.
Futures-based (USDA LRP, Oct 28): Jan $342.10 (-$3.76 wk), Mar $337.27 (-$5.17 wk), Apr $335.60 (-$5.83 wk), May $332.95 (-$6.61 wk).
 
Lean Hogs
$65.33 /cwt carcass  Thu cash ▲ $0.18
USDA cash hogs · Oct 29
Futures-based (USDA LRP, Oct 28): Feb $65.45 (-$2.87 wk), Apr $73.56 (-$0.53 wk), May $80.51 (+$0.46 wk).
 
Dairy
Class III Milk
16.59 /cwt  Wed close: ▼ $0.06 (-0.36%)
Jan Class III · official close Wed Oct 28
USDA: Class III milk price (announced): $16.04/cwt (September 2026), down $0.60 from the month before, $1.55 below a year ago, $3.09 below the 5-year average.
 
Class IV Milk
19.05 /cwt  Wed close: ▼ $0.02 (-0.10%)
Jan Class IV · official close Wed Oct 28
USDA: Class IV milk price (announced): $18.94/cwt (September 2026), up $1.58 from the month before, $2.77 above a year ago, $0.77 below the 5-year average.
 
Cheese
1.547 /lb  Wed close: ▼ $0.003 (-0.19%)
Jan Cheese · official close Wed Oct 28
Cash: Cheese, 40-lb blocks (CME spot): $1.7350/lb (Oct 29), down 1¢ from Wednesday.
 
Butter
141.925¢ /lb  Wed close: ▼ 0.88¢ (-0.62%)
Jan Butter · official close Wed Oct 28
Cash: Butter, Grade AA (CME spot): $1.3200/lb (Oct 29), up 3.5¢ from Wednesday.
 
Energy
Crude Oil
$103.37 /bbl  Tue spot ▼ $1.88
EIA spot · Oct 27
In the news that day: Oil Settles Lower Amid Middle East Diplomatic Efforts.
 
Heating Oil
$4.687 /gal  Tue spot ▼ $0.146
EIA spot · Oct 27
 
Natural Gas
$2.76 /MMBtu  Tue spot ▲ $0.24
EIA spot · Oct 27
In the news that day: Bearish EIA Storage Print Depresses Natural Gas Futures.
 
Metals
Gold
$4,319.00 /troy oz  vs month before ▼ $92.00
World Bank monthly avg · September 2026
In the news that day: Gold Edges Lower After Fed Holds Rates With Limited Guidance.
 
Silver
$64.60 /troy oz  vs month before ▼ $0.80
World Bank monthly avg · September 2026
In the news that day: Gold, silver open weak after Fed keeps rates unchanged, prices volatile.
 
Copper
$14,474 /metric ton  vs month before ▲ $148
World Bank monthly avg · September 2026
In the news that day: Federal Reserve interest rate decision uncertainty drives Copper down.
 

Grain shipping this week

  • St. Louis barge rate 564% of tariff (about $22.51/ton), down 5% from last week, up 14% from a year ago, down 10% from the 3-yr average (week of Oct 27).
  • Barges moved 536k tons of grain down river (week ending Oct 24), up 3% from the week before, down 25% from a year ago, down 29% from the 3-yr average.
  • Shuttle railcars for this month trade over tariff: BNSF $275 (last week $62), UP $100 (last week $200) per car.
  • Ocean freight to Japan (Sep): Gulf $76.38/ton, PNW $37.31/ton; a year ago $57.13 and $29.63.

Barge, rail, ocean and river

CME spot dairy today

  • Cheese, 40-lb blocks (CME spot): $1.7350/lb (Oct 29), down 1¢ from Wednesday.
  • Cheese, 500-lb barrels (CME spot): $1.7250/lb (Oct 29), unchanged from Wednesday.
  • Butter, Grade AA (CME spot): $1.3200/lb (Oct 29), up 3.5¢ from Wednesday.
  • Nonfat dry milk, Grade A (CME spot): $2.0875/lb (Oct 29), up 4.75¢ from Wednesday.
  • Dry whey, extra grade (CME spot): $0.8200/lb (Oct 29), up 1¢ from Wednesday.

CME Group spot trading, as published by USDA Dairy Market News. Dairy futures by month and cash prices

USDA: prices farmers received, August 2026

  • Corn: U.S. average 4.45/bu, +0.19 from the month before, +0.49 from a year ago (3.96)
  • Soybeans: U.S. average 12.10/bu, +0.50 from the month before, +2.10 from a year ago (10.00)
  • All wheat: U.S. average 6.23/bu, +0.17 from the month before, +1.39 from a year ago (4.84)

Every state · Source: USDA NASS Agricultural Prices

On deck

  • Fri: Weekly recap email (Week in Review), 3:00pm CT

Informational only — not investment, trading or financial advice.

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