Market Closes - April 15, 2021

Posted on Apr 15, 2021

Corn May -4 590 (588-601); Jly -3 577; Dec +1 512 (508-17)

Beans May +8 1418 (1407-21); Jly +9 1411; Nov +5 1269 (1261-71)

  Meal May +4 402 (397-405); Dec unch 392

  Oil +65 5489

Wheat May +6 654; Jly +5 655 (641-59); Dec +4 662

  KC +4 608; MGE +2 663

Oats unch 382

Rice -11 1305

 

LC Apr -50 12160; Aug -47 11970; Oct -47 12337

FC Apr -110 14005; Aug -110 15560; Oct -80 15780

LH Apr -20 10340 expired; Jly -300 limit 10237; Oct -292 8310

Milk Apr +7 1756; May -17 1866; Jun -22 1873

CBOT futures closed mixed with old-crop corn ending lower and soybeans and wheat posting modest gains. Corn made new contract highs overnight before moving lower in the day session due to disappointing weekly export sales. Corn futures surpassed the $6.00 mark for the first time since mid-2013 (as prices fell from record highs of 2012/13). The $6.00 mark may have stimulated farmer sales and some profit-taking by the funds. While soybean export sales were also low, bean futures managed to close higher and near the day’s highs. Soybean meal and oil both were supportive today. While the rest of April may be on the cooler than normal side, NOAA’s May/Jun/Jly outlook released today calls for increased odds of warmer than normal temperatures throughout the U.S. Rainfall is forecast to be near-normal in the western Cornbelt (and spring wheat area) and above-normal in the eastern Cornbelt.

https://www.weather.gov/hun/climateforecast

 

Cattle closed lower today, much like yesterday – with feeder futures losing more ground than live cattle. With cash feds not leading the market higher, the recent downdraft in live cattle futures continued as the spec long takes profits. Hopefully, today’s strong gains in boxed beef will get packers to pay up tomorrow. Choice beef rose 3.71 to 276.62 and Select gained 1.12 to 268.43. Light cash fed trade today was at steady to higher prices -- $120-121 live in Kansas; $123-126 in Nebraska; and $196/cwt dressed. Weekly beef export sales of 15,700 MT were down 14% from last week.

Lean hog futures closed sharply lower to down the daily $3.00 limit (expands to $4.50 tomorrow). Initial weakness from a negative weekly pork export sales report turned to a sharp, limit-down loss before 10:00 am CT. FOB Plant Pork closed 3.28 higher at 113.37, shy of the morning quote of 114.92. The gains came from an 11% increase in bellies, a 6% gain in loins and a 4.5% gain in the ham value.

 

US$ +.1% 91.70

Dow +305 34036 – record high

SP +46 4170  - record high

NAS +181 14039

Tran +56 14930

  VIX -.42 16.57

 

WTI +15 6337

Brent +24 6682

Gas +1 205

NG +4 266

HO +1 190

Eth +1 201

Gold +27 1762

Slvr +40 2592

 

2-yr  unch 0.163%

5-yr -.039 0.821%

10yr -.055 1.581%

30yr -.049 2.275% (low of 2.21%)

 

https://droughtmonitor.unl.edu/
 

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