Market Closes - April 17, 2018

Posted on Apr 17, 2018

CBOT futures closed mixed on a lack of market direction from the fundamentals. Traders are watching weather forecasts for indications of when corn planting could accelerate. Corn closed weak and near the day’s lows. Soybeans finished near the highs as traders bargain hunted following Monday’s sharp losses. Also, the NOPA soybean crush for March was record high. The spec funds have sizable long positions in corn and soybeans, and a short position in wheat futures.

Cattle futures closed mostly higher but well off the day’s highs. Futures moved higher early in the session and worked their way lower the rest of the session. Live Cattle futures traded new highs for April. April posted nice gains as it remains about $4.00 below last Friday’s cash market. In boxed beef, Choice closed up 0.34 at 212.13; Select down 0.40 at 199.58. 

Lean Hog futures closed weak in May/June LH and higher in the deferreds. Even as cash hog prices strengthened, LH futures closed little changed. LH futures are at such a premium to cash that it may be easier for LH to weaken short-term. FOB Plant Pork edged up .06 at 68.21 – about the same as the midday quote.

Corn May -2 380; Jly -2 389; Dec -1 406 (405-09)

Bean May +4 1046; Jly +4 1057; Nov +5 1045 (1039-46)

  Meal +3 381

  Oil +1 3119

Wheat May +4 466; Jly +2 481 (477-87)

  KC +2 480; MGE +6 612

Oats -2 229

Rice +10 1315

 

LC Apr +90 11805; Aug +25 10445; Oct +20 10880

FC Apr -50 13872; Aug +30 14507; Oct +22 14692

LH May -27 6790; Jly +55 7922; Oct +52 6792

Milk May +13 1493; Jun +19 1535
 

US$ +.1%

Dow +214 24787

SP +29 2706

NAS +125 7281

Tran -18 10593

  VIX -1.31 15.25

 

WTI +46 6666

Brent +30 7172

Gas unch 204

NG -1 274

HO -1 206

Eth unch 147

Gold unch 1350

Slvr +11 1678

 

2-yr +.017 2.394%

5-yr +.007 2.690%

10yr -.002 2.830%

30yr -.013 3.017%

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