Corn May +12 816 (797-816); Jly +10 810; Dec +1 748 (736-51)

Bean May +30 1747 (1714-50); Jly +25 1717; Nov +9 1529 (1510-33)

  Meal May +7 471 (464-72); Dec +2 426

  Oil  May +60 8081; Dec +66 7183

Wheat May -11 1088 (1067-1110); Jly -11 1097 (1075-1118)

  KC May -8 1163; MGE unch 1169

Oats May -23 723

Rice May -1 1605

 

LC Apr +172 14307; Aug +197 14015; Oct +180 14610

FC Apr +85 15750; Aug +202 17347; Oct +127 17897

LH May -222 11247; Aug -167 11840; Oct -110 9840

Milk Apr +3 2429; May -22 2416; Jun -24 2434

CBOT futures closed mixed with corn and the soy complex strongly higher as wheat futures dropped one percent. Corn, soybeans and soybean oil futures made new contract high closes. Market strength continues as the bullish factors remain the same – war-related supply issues from the Black Sea area, dryness in Brazil’s safrinha corn crop, cool and wet conditions in the U.S. delaying planting, and strong demand from China. Wheat ended lower on follow-through selling to Monday’s lower close, but did manage to finish mid-range. The US Dollar dropped 0.6% today which was supportive.

Cattle futures closed strongly higher supported by higher cash fed prices. Choice beef slipped 1.11 to 268.82 and Select dropped 2.68 to 256.53. Beef movement was fairly strong at 137 loads. USDA reported light cash trade as high as $145/cwt in the western Cornbelt and $146/cwt in Nebraska. Dressed price in Nebraska traded $230/cwt on Tuesday.

Lean hog futures closed sharply lower especially in the front-end months. LH was pressured by futures’ premium to the cash market which is not showing any strength this week. FOB Plant Pork ended up 1.37 at 108.49 compared to 109.94 in the morning report. Ham and belly values were less volatile today. Pork movement was about average at 253 loads.

 

US$ -.6% 100.34

Dow +250 35161

SP -3 4459

NAS -167 13453

Tran +257 15464

  VIX -.87 20.67

 

WTI +19 10275

Brent -45 10680

Gas +4 329

NG -24 694

HO +11 397

Gold -3 1956

Slvr -12 2527

 

2-yr unch  2.575%

5-yr -.027 2.862%

10yr -.081 2.834%

30yr -.116 2.874%

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