Corn May -16 799 (797-814); Jly -15 795; Dec -10 739 (736-48)

Bean May +1 1748 (1728-53); JLy +2 1719; Nov +2 1532 (1520-37)

  Meal May -2 469 (465-73); Dec unch 426 (424-30)

  Oil  May +69 8150 (8000-8195); Dec +65 7248

Wheat May -20 1068 (1052-94); Jly -21 1076 (1062-1103)

   KC May -25 1138; MGE -18 1151

Oats -12 711

Rice +17 1623

 

LC Apr +102 14410; Aug +142 14157; Oct +120 14730

FC Apr +95 15845; Aug +297 17645; Oct +250 18147

LH May -162 11085; Aug -137 11702; Oct -67 9772

Milk Apr +4 2431; May +37 2454; Jun +36 2480

Corn and wheat futures dropped around two percent today while soybeans finished near steady. Poor export sales weighed on corn and wheat. Soybean export sales were better than traders expected. Today’s ethanol production report put production last week at the lowest weekly levels since September 2021. Soybeans barely made new contract high closes in old and new crop. Strong soybean oil price offset weakness in soybean meal. In KC/Chicago wheat, Wednesday evening’s market open made the trading session high. Today’s down market makes for a 3-day down move in prices.

Cattle futures closed strongly higher for a second day in a row with support from this week’s stronger cash fed market. Feeder futures had some big gains thanks to the CBOT weakness. Weaker weekly beef export sales down 13% week/week limited gains. USDA reported limited cash trade in the area of $146/cwt live and $230-232 dressed. Choice beef gained 1.35 to 270.17 and Select slid .85 to 255.68. Movement was 104 loads, about average.

Lean hog futures posted sizable losses (for a second day), pressured by disappointing pork export sales – a marketing year low of 12,900 MT (down 46% week/week). LH’s premium to cash hog prices is pressuring futures. FOB Plant Pork rose 1.71 to 110.20 on strength in the belly value – up 11 @ 194. Pork movement was very light at 184 loads.

US$ +.3% 100.63

Dow -368 34793

SP -66 4394

NAS -278 13175

Tran -54 15410

  VIX +2.36

 

WTI +184 10403

Brent +188 10868

Gas +5 331

NG unch 706

HO -2 365

Gold -2 1953

Slvr -55 2472

 

2-yr +.095 2.674%

5-yr +.108 2.964%

10yr +.072 2.908%

30yr +.051 2.927%
 

 

https://droughtmonitor.unl.edu/
 

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