Market Closes - April 27, 2015

Posted on Apr 27, 2015
Corn and wheat futures closed lower with selling encouraged by favorable weather forecasts and bearish technical signals coming off of Friday’s sharp losses. Soybeans found some support from this morning’s export inspections report and an old-crop export sale. Also, weather favorable to corn planting may limit increased soybean acreage. A lack of improvement in the winter wheat condition ratings might give wheat futures a lift tomorrow. Corn planting progress came in about as expected.
Corn Planting Progress .       4/26/15      5-yr average U.S.      19%          25% (17% last year) KY         7%          45% (29% last year)
Winter Wheat Conditions – 18 States .     Good/Excellent    Poor/V.Poor This Week     42%          20% Last Week     42%          19% Last year     33%          34%
Live Cattle futures closed lower with feeder futures down sharply. Friday’s Cattle on Feed Report was considered slightly bearish as the on-feed number was a point higher than expectations and March placements were nearly 5 points over the trade guess. Choice carcasses down 0.10 at 256.89; Select up 0.36 at 247.98.

Lean Hog futures closed pit trading mixed, but edged about 30 cents higher during the afternoon. Some LH charts broke out to new highs. Pork cutout values improved between the morning and afternoon quote. FOB Plant Pork closed up .92 at 70.86. Also cash hog prices were higher.

Corn May -4 361; Jly -5 365; Dec -5 383 (383-88) Bean May +3 973; Jly +2 973; Nov unch 952 (947-60) Meal unch 315 Oil -1 3166 Wheat Jly -15 473 (472-90); Dec -15 500 KC -11 496; MGE -11 534 Oats -4 238 Rice -12 985

LC Apr -70 16047; Jun -92 15027; Oct -117 15005 FC Apr +5 21490; Aug -250 21317; Oct -255 21132 LH May +32 7227; Jun -5 7940; Oct -20 7167 Milk May -12 1648; Jun -12 1685

 

US$ -.1% Dow -42 18038 SP -9 2109 (hit new record high, closed lower in key reversal) NAS -32 5060 Tran -76 8804 VIX +.83 13.12

WTI -50 5665 Brent -54 6474 Gas unch 200 NG -6 250 HO -1 192 Eth -2 158 Gold +26 1201 Slvr +72 1636

2-yr +.012 0.524% 5-yr +.020 1.342% 10yr +.009 1.926% 30yr -.001 2.617%

Tagged Post Topics Include: Economics, Market updates