Market Closes - April 11, 2018

Posted on Apr 11, 2018

CBOT 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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