# Market Closes - June 28, 2016 - Kentucky Farm Bureau

> Corn futures rallied early but closed lower on the day, with December corn at 3.9425 after several sessions below its 200-day moving average. Soybeans and soybean meal closed strongly higher on firm cash demand, while KC and MGEX wheat hit new contract lows. Cattle and hog futures closed higher, and the article notes that USDA reports due Thursday could set the next trend.

- Date: 2016-06-28 · published 2016-06-28T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/4211-market-closes-june-28-2016-kentucky-farm-bureau
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

Strong soybean and meal demand supports protein feed costs, while lower corn and wheat prices ease feed grain costs for buyers. Cattle and hog strength supports demand for feed in those sectors.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bearish ▼
- HOGS: bullish ▲
- KWHEAT: bearish ▼
- LCATTLE: bullish ▲

## Sources

- kyfb.com: https://www.kyfb.com/federation/newsroom/market-closes-june-28-2016/

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