Market Closes - April 11, 2018
Posted on Apr 11, 2018CBOT futures closed lower today. Futures dropped when trading opened at 830 am CT, bounced higher soon after, but failed into the close. This left soybean futures at/near the day’s lows and corn and wheat in the lower half. Futures traded sizable ranges without much fundamental news. The winter storm headed to the northern Plains supported spring wheat prices. Analysts report that US export soybeans are cheaper than Brazil’s – FOB. CBOT futures couldn’t benefit from the stronger energy futures and weak US dollar.
Cattle futures closed mostly higher after a day with narrower trading ranges. Some cash cattle sold today from $114 to $117/cwt. The number of cattle harvested so far this week is about 5% ahead of last week and year-ago. Choice carcasses ended down 0.44 at 213.07; Select down 0.72 at 200.61. At midday, Choice was up .28/cwt.
Lean Hog futures closed strongly higher except for the nearby April LH contract. Tuesday’s losses were mostly recovered today. FOB Plant Pork ended down .71 at 65.86, with all cuts lower except for the belly.
Corn May -2 387; Jly -2 396; Dec -2 412 (410-15)
Bean May -2 1048; Jly -1 1059; Nov -1 1046 (1046-57)
Meal -4 380
Oil -32 3153
Wheat May -5 487; Jly -4 504 (500-08)
KC -5 517; MGE +2 629
Oats +1 237
Rice +3 1280
LC Apr +67 11347; Jun -30 10180; Oct +32 10677
FC Apr +97 13580; Aug +35 14097; Oct +2 14300
LH Apr -10 5340; Jun +97 7602; Oct +97 6717
Milk May -18 1467; Jun -17 1506
US$ -.1%
Dow -219 24189
SP -15 2642
NAS -25 7069
Tran -36 10193
VIX -.23 20.24
WTI +131 6682
Brent +102 7206
Gas +3 207
NG +2 267
HO +3 209
Eth +2 149
Gold +14 1360
Slvr +17 1677
2-yr -.008 2.307%
5-yr -.010 2.613%
10yr -.018 2.779%
30yr -.023 2.994%
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