Corn May +1 758 (748-59); Jly +3 750; Dec +4 709 (700-09)

Bean May +26 1645 (1615-53); Jly +23 1627; Nov +22 1466 (1438-69)

  Meal May -2 460; Dec +3 418

  Oil  May +119 7302; Dec +159 6693

Wheat May -18 1020 (1018-44); Jly -15 1025 (1023-47)

  KC May -14 1071; MGE -9 1099

Oats +15 767 May

Rice -9 1581

 

LC Apr +30 13800; Aug +40 13610; Oct +75 14335

FC Apr -70 15640; Aug +157 17427; Oct +175 17932

LH Apr +30 9905; Jun -55 11415; Aug +15 11410

Milk Apr +14 2408; May -20 2465; Jun -21 2461

CBOT futures closed mixed ahead of Friday’s midday USDA reports on production and supply-demand. Key will be updates to Brazil’s and Argentina’s production estimates and USDA’s expectations for Russia/Ukraine’s production and exports. Old-crop corn continues a sideways trading pattern between $7.30-7.70. December corn set a new contract high close just below Tuesday’s contract high. Soybeans were lifted by a private estimate of Brazil’s crop below USDA’s March forecast. Wheat was pressured by forecasts for beneficial moisture in the norther Plains.  

Cattle futures closed mostly higher with better gains in the deferred feeder cattle contracts. Futures were supported by short-covering after the recent sell-off in LC and FC. Choice beef slipped .04  to 271.00 and Select gained .17 to 261.22. Beef movement was very light at 94 loads. Negotiated trading was not established. This week’s light trade ranged $137-140/cwt live and mostly $222/cwt dressed.

Lean hog futures closed widely mixed with dollar-plus gains in the October-February contracts. Closing LH futures did not match the early morning surge in pork cutouts which may have been supported by a big jump in the weekly pork export sales report out early this morning. Sales were up 49% week/week and up 44% from the prior 4-week average. China was the second largest buyer. FOB Plant Pork ended down 1.26 at 103.11 compared to 112.16 in the morning report. Big gains in the values of ham and bellies disappeared by the afternoon. Pork movement of 252 loads was moderate.

US$ +.1% 99.75

Dow +88 34585

SP +19 4500

NAS +8 13897

Tran +42 14605

  VIX -2.76  21.49

 

WTI -20 9603

Brent +47 10154

Gas -1 304

NG +33 636

HO -8 327

Gold +15 1938

Slvr +28 2473

 

2-yr -.038 2.464%

5-yr +.009 2.713%

10yr +.053 2.662%

30yr +.052 2.684%

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