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Market Updates

Market Closes - January 18, 2017
January 18, 2017
Market Closes - January 18, 2017

CBOT futures closed mixed with soybeans and meal performing the best of the major commodities (Oats gained an impressive 8 cents).  Live cattle futures closed higher while Feeder cattle ended lower except for the February contract. LC was supported by higher boxed beef values and expectations of higher fed cattle prices this week. Lean Hog futures closed lower after moving to new highs in the morning. Profit-taking kicked in under pressure from a sharply lower pork market. 

Market Closes - January 17, 2017
January 17, 2017
Market Closes - January 17, 2017

Except for MGEX wheat and soybean oil futures, CBOT futures closed strongly higher led by 2+ percent gains in old-crop soybean futures and 4+ percent gains in nearby soybean meal futures.  Corn and wheat futures also gained almost 2 percent.  Cattle futures closed higher and in the upper end of the range.  Live Cattle traded to new highs.

Market Closes - January 12, 2017
January 12, 2017
Market Closes - January 12, 2017

CBOT futures closed near steady in corn to sharply higher in soybeans and soybean meal in response to the midday USDA crop reports.  Wheat futures closed strongly higher, supported by lower-than-expected winter wheat seedings reported today at 32.38 million acres, down 10% from 2015 and the 2nd lowest on record. 

Market Closes - January 11, 2017
January 11, 2017
Market Closes - January 11, 2017

CBOT futures closed mostly lower as traders prepared for tomorrow’s USDA reports on grain stocks, wheat seedings, and US/World Supply-Demand.  Cattle futures closed lower and in relatively narrow price ranges. This comes after the sharp price gains on Monday and Tuesday.  Lean Hog futures closed slightly higher on stronger cash hog prices and a sharp jump in the pork cutout value that more than erased Tuesday’s drop. 

Market Closes - January 10, 2017
January 10, 2017
Market Closes - January 10, 2017

CBOT futures closed near steady to higher with the soy complex leading the market for a second straight day.  Soybeans, meal and soyoil futures closed at the high end of the range.  Cattle futures closed sharply higher despite lower beef prices. Boxed beef values dropped sharply.  Lean Hog futures closed higher with the nearby February LH contract leading the way up. The gains came in sympathy with cattle’s sharp rally and a dollar/cwt increase in cash prices.

Market Closes - January 9, 2017
January 9, 2017
Market Closes - January 9, 2017

CBOT futures closed higher with soy and wheat leading the market up and posting closes at the very high end of the day’s trading range.  Cattle futures closed strongly higher with the biggest gains in the Feb and April LC contracts. Futures started the day on a weak tone but soon turned higher.  Lean Hog futures closed higher except for February LH dropping 22 cents. All LH contracts opened lower this morning under pressure from weaker cash hog prices and February LH’s sharp premium to the CME Cash Index.

Market Closes - January 4, 2017
January 4, 2017
Market Closes - January 4, 2017

CBOT futures closed strongly higher, led by the soy complex. Soybean futures traded to new lows Tuesday evening (following the day’s new-low closes), but rallied sharply during the 8:30am -1:00pm session.   Live Cattle futures closed mixed with strength in the nearby contracts, as cash cattle traded around $117/cwt today – a premium to the nearby February LC contract.

Market Closes - December 21, 2016
December 21, 2016
Market Closes - December 21, 2016

CBOT futures closed narrowly mixed with very little fundamental news to move the market.  Corn futures, both old and new-crop, have closed lower for 5 straight trading days.  Cattle futures closed higher with the nearby December LC contract leading the way as traders are optimistic cash prices will rise. 

Market Closes - December 19, 2016
December 19, 2016
Market Closes - December 19, 2016

Although CBOT futures performed well Sunday evening, the tide turned south overnight and accelerated downward after the 830 am CT reopening – resulting in lower closes.  Most of the pressure was blamed on beneficial rainfall in Argentina over the weekend.  Beyond the nearby December Live Cattle contract, cattle futures closed mostly higher with most contracts hitting new highs for this move that started back in mid-October.  

Market Closes - December 14, 2016
December 14, 2016
Market Closes - December 14, 2016

The biggest news today is that the Federal Reserve raised its key interest rate by 0.25 points – as expected.  CBOT futures closed mixed with relatively small price changes. Corn and wheat closed near the day’s highs, despite the spike higher at 1 pm CST in the US Dollar Index when the FOMC raised its interest rate.