Market Closes - April 18, 2019

Posted on Apr 18, 2019

     Futures CLOSED on Good Friday

 

Corn May unch 358; Dec unch 386 (385-87)

Bean May +1 880; Nov +1 913 (910-15)

  Meal -1 303

  Oil +34 2880

Wheat Jly -2 448 (443-51); Dec -3 471

  KC Jly unch 426; MGE -2 529

Oats Jly -1 278

Rice -5 1067

 

LC Apr +160 12852; Jun +30 12267; Oct -10 12010

FC Apr +37 14570; Aug +22 16067; Oct +37 16240

LH May +127 9020; Jly -7 10055; Oct -22 9435

Milk May unch 1569; Jun +7 1595

Going into the 3-day Easter Weekend, CBOT futures closed narrowly mixed, in most cases. There’s little new for traders to act on and the spec funds already have large short positions in place. Soybean futures moved to new lows early in the session, but headed higher at 9:30 am. Soybean oil saved the beans today. Today’s weekly export sales report was negative.

Cattle futures closed mostly higher and near the day’s highs. The April LC rose strongly on sizable gains in the cash fed market going into the long weekend. Choice beef gained .30 to 233.06 and Select dropped .70 to 219.46.  This afternoon’s Cattle on Feed report showed bigger placements and on-feed inventories than expected. This could weigh on futures on Monday. The April 1 on-feed inventory is the largest April 1st estimate since 1996 when such estimates began. This morning’s weekly beef export sales report was very positive.

Lean Hog futures closed mixed with the nearby May and June LH contracts posting nice gains. LH trading ranges were nearly $3.00/cwt today as volatility increased. LH hit its lows around 9:10 am and then rallied strongly. The nearby LH was supported by a stronger pork cutout and strong pork export sales reported before the opening. China represented about 58% of the 40,300 MT in sales. YTD, China has a fourth of total pork export sales, compared to 4% a year ago. FOB Plant Pork climbed .85 to 87.85 with ribs and bellies up 1.5 percent.

US$ +.4%  97.46

Dow +110 26560

SP +5 2905

NAS +2 7998

Tran +53 10988

  VIX -.51 12.09

 

WTI +18 6405

Brent +35 7197

Gas +3 207

NG -2 249

HO unch 207

Eth unch 133

Gold +1 1278

Slvr +3 1496

 

2-yr -.022 2.380%

5-yr -.032 2.369%

10yr -.032 2.560%

30yr -.033 2.959%

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