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331756

Evening Edition | Thursday, August 4, 2022

In tonight's Evening Edition, read about the factors contributing to wild commodity prices, an auction company sale, and the market close.

Wild cards spur volatility

In a normal year, CHS research analyst Joe Lardy says he can count the number of unknown factors driving commodity prices on one hand. This is not a normal year.

"In a year like right now, I'd have to take off my shoes and start using my toes to count out the variables that we have going on," Lardy says.

In a recent CHS roundtable, Lardy discussed the record high commodity prices and volatility the market has seen in 2022. He says with the number of wild cards still at play in the market, commodity prices will remain volatile.

SOLD!

BigIron Auctions has announced its agreement to acquire Sullivan Auctioneers. The agreement was finalized on July 19 and will bring together more than 300 employees. 

The two companies have nearly 80 years of combined experience and will continue future operations as BigIron Company. It will have locations in Omaha, Columbus, and St. Edwards, Nebraska; Hamilton, Illinois; Huntington, Indiana; and Bird Island, Minnesota.

Grains finish up

At Thursday's close, corn is up 11¢. Soybeans closed up 59¢. Wheat is up with CBOT at 18¢ higher, KC at 23¢ higher, and Minneapolis 19¢ higher. Live cattle and feeder cattle continue to be down while lean hogs closed up $1.75. Crude oil is down $2.20. 

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