CBOT futures closed mixed with closing prices near unchanged. Futures were up and down twice today, testing the early highs and lows. Old-crop corn futures rose sharply when trading opened at 830 am and traded above the 200-day moving average, but closed near the day’s lows and below the 200-day. Wheat also closed near the lows while soybeans managed a mid-range close thank to the rally in soybean oil futures. Markets were supported by short-covering as traders wait to see how planting progresses. A negative factor today was the sharp drop in crude oil and gasoline futures.

Cattle futures closed higher with the April LC contract leading the way – hitting new highs that are $30/cwt above the October lows.  April LC is chasing the cash market higher as some cattle traded $130-132 in S. Plains. Choice carcasses down 0.82 at 215.17; Select carcasses down 0.20 at 202.00.  The April LC is overbought with an RSI of 77.

Lean Hog futures closed sharply lower as the bearish momentum continues. FOB Plant Pork dropped .69 to 74.79. LH futures are approaching oversold levels.

Corn May unch 362; Jly unch 368; Dec unch 386 (385-90)

Bean May +4 950; Jly +4 960; Nov +1 958 (953-63)

  Meal -1 311

  Oil +44 3158

Wheat May -3 419; Jly -2 434 (433-40)

  July KC -2 429; MGE -2 545

Oats unch 218

Rice unch 1005

 

LC Apr +115 12792; Aug +45 11227; Oct +37 11132

FC Apr unch 13867; Aug +77 14295; Oct +32 14175

LH May -127 6587; Jly -140 7150; Oct -65 6480

Milk Apr -4 1520; May -4 1517

 

US$ +.3%

Dow -119 20404

SP -4 2338

NAS +14 5863

Tran +43 8976

 VIX +.51 14.93

 

WTI -184 5057

Brent -181 5308

Gas -5 166

NG +5 319

HO -4 159

Eth unch 162

Gold -10 1282

Slvr -13 1814

2-yr +.012 1.181%

5-yr +.032 1.742%

10yr +.037 2.216%

30yr +.033 2.874%

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