Corn May +11 580 (565-84); Jly +10 566; Dec +8 504 (495-506

Bean May +7 1389 (1378-99); Jly +6 1385; Nov +1 1251 (1246-62)

  Meal May -7 395 (395-403); Dec -4 388

  Oil +158 5303

Wheat May +2 630; Jly +2 633 (631-40); Dec +3 640

  KC +6 585; MGE +6 649

Oats +3 375

Rice +3 1313

 

LC Apr -32 12240; Aug -105 12090; Oct -102 12450

FC Apr -205 14245; Aug -242 15815; Oct -207 15977

LH Apr -12 10340; Jly -15 10432; Oct +2 8572

Milk Apr -24 1762; May -48 1948; Jun -47 1955

CBOT futures had a “turnaround Tuesday” with most CBOT futures closing higher to sharply higher. December corn made a new contract high and contract high close. Corn was supported by strong U.S. cash basis and rising prices in Brazil and China. Old-crop soybeans were supported by a sharp rise in soybean oil futures which erased Monday’s big drop. Soyoil was supported by rising values in palm oil and Chinese soyoil. Wheat rose in sympathy with the corn/soy markets.

After opening steady to higher, cattle futures closed lower with feeders posting bigger losses due to rising corn futures. Today’s weakness may have been from additional profit-taking by the spec funds. Choice beef dropped 1.30 to 270.11 and Select edged up .38 to 266.54. The Choice-Select spread narrowed to 3.57. Cash trade was inactive.

Lean hog futures closed narrowly mixed as the market lacked direction. Strong pork cutouts were supportive, but traders were cautious at these historically high prices (excluding 2014). FOB Plant Pork closed up 2.39 at 112.49, lower than the morning quote of 115.46. Gains were spread among cuts: loins up 4%, butts up nearly 5%, and ribs and bellies up 3%.

US$ -.3% 91.83

Dow -68 33677

SP +14 4142

NAS +146 13996

Tran -106 14864

  VIX -.26  16.65

 

WTI +80 6055

Brent +72 6400

Gas steady 197

NG +6 262

HO +1 182

Eth +3 194

Gold +13 1744

Slvr +54 2540

 

2-yr -.010 0.161%

5-yr -.053 0.839%

10yr -.056 1.620%

30yr -.049 2.299%

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