Hogs fall 5.5% to $58.60 while corn holds $4.51
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Lean hogs settled Wednesday at $58.60, down 5.5% and the biggest drop on the board, only 1% off their 52-week low. Every hog sold this week brought less than it would have Tuesday.
Only on AGSIST
On Wednesday, Oct 28, 1,744 of the 1,843 elevators AGSIST reads posted a higher cash corn bid than Tuesday, 24 a lower one; 229 changed their basis, 60 weaker and 169 stronger.
75 unchanged; median change 3¢ higher. Biggest state move: Colorado, 4¢ higher (23 elevators). 4 outliers left out.
On Wednesday, Oct 28, 1,545 of the 1,617 elevators AGSIST reads posted a lower cash soybean bid than Tuesday, 1 a higher one; 187 changed their basis, 121 weaker and 66 stronger.
71 unchanged; median change 15¢ lower. Biggest state move: Iowa, 15¢ lower (402 elevators).
Corn basis on Oct 29 ran from 55¢ over December futures in Texas to 88½¢ under in North Dakota, state medians of the elevators AGSIST read at 4:36 a.m. CT.
Elevators behind each median: Texas 17, North Dakota 46. 15 states with 15 or more.
Counted by code from the elevator boards AGSIST reads itself, not by the writer of this briefing. A day's change is each board's last posted bid against its own on the trading day before, same delivery period. Quote it with the date and a link to agsist.com/daily/2026-10-29. How this briefing is made · Monthly: AGSIST Cash Bid Index
Corn harvest price so far: $4.77 vs $4.62 projected (+3.2%), 20 of 22 trading days in.
Soybeans harvest price so far: $12.67 vs $11.09 projected (+14.2%), 20 of 22 trading days in.
Ours: the average of the daily CBOT settles through Oct 28, figured the way USDA RMA does. RMA posts corn at $4.79 and soybeans at $12.70, both through Oct 27. Window and projected price: USDA RMA, as of Oct 28. Oct 1-31 window, most states. Harvest price tracker →
- December hogs settled Wednesday at $58.60, down 5.5% from Tuesday's $62.025 settle, the largest move on the board.
- Live cattle settled at $227.375, down 1.1%, and feeders at $351.425, down 0.4%.
- Drovers' Profit Tracker says packer profits fell while feedlot losses moderated.
- Dec corn is at $4.51¼ overnight, half a cent under Wednesday's $4.51¾ settle.
- November beans are at $12.16¾, down 7¾ cents, after three straight lower closes.
- Feedstuffs said soybeans and winter wheat faded lower Wednesday, with corn the only grain to hold up.
- WTI is at $101.21 overnight, down 1.5%. Oilprice reports Vice President Vance contacted Iran's security council to restart peace talks. Supply fears from the Iran conflict have kept crude above $100 for months.
- Natural gas is at $3.04, up 8.0%, as Oilprice reports record U.S. production.
- Thursday, Oct 29, 7:30 a.m. CTExport sales. Beans have lost three straight sessions, so weak sales would fit that slide.
- OngoingHogs holding above the 52-week low near $58 or breaking under it.
- OngoingWTI back under $100 would say the Iran talks are easing supply worries.