# Market Closes - July 1, 2020 - Kentucky Farm Bureau

> CBOT grains closed sharply higher on July 1, 2020, led by corn at three-month highs after the USDA's bullish acreage report. Soybeans rallied on fund buying and forecasts for warmer, drier weather, and wheat followed corn. Lean hogs closed lower on backed-up supplies, while live cattle finished higher.

- Date: 2020-07-01 · published 2020-07-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/12770-market-closes-july-1-2020-kentucky-farm-bureau
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Smaller acreage and hotter, drier forecasts tighten expected feed grain supplies and support corn, soybean and wheat prices. Heavier hog supplies keep pressure on pork values and feed demand for hogs.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- HOGS: bearish ▼
- WHEAT: bullish ▲
- LCATTLE: bullish ▲

## Sources

- kyfb.com: https://www.kyfb.com/federation/newsroom/market-closes-july-1-2020/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.