Market Closes - April 9, 2018 - Kentucky Farm Bureau

Market Closes - April 9, 2018

Posted on Apr 9, 2018

Corn and soybeans closed higher, while wheat jumped over 3 percent. Wheat futures gapped higher on the open and kept rolling until the highs were set about an hour before the closing bell. Wheat was supported by short-covering by the spec funds in light of the unfavorable weather in wheat country. HRW wheat is experiencing cold and drought, while spring wheat country is cold and snowy. Tonight’s USDA winter wheat rating saw the Good/Excellent drop from 32% last week to 30%, and the Poor/Very Poor segment increased 5 points to 35%. In the Poor/V.Poor segment, TX is 61%, OK is 57% and KS is 44%. No spring wheat has been planted in SD/ND/MN/MT, which is unusual. Corn was supported by very strong corn export inspections for last week. Traders are preparing for Tuesday’s USDA WASDE report and the updated forecasts for US and World carryouts.

Cattle futures closed mostly lower and at the low end of the day’s trading ranges.  Price ranges today were around $2.00 in LC and $4.00 in FC. Choice carcasses closed up 0.73 at 215.04; Select carcasses were down 2.46 at 203.14. Choice was up 1.26 at midday.

Beyond the nearby April LH contract, lean hog futures closed 3-4% higher on technical buying and a strong midday pork market. FOB Plant Pork ended down .07 at 66.62; a sharp drop in belly value offset gains for the other 5 primals.  This contrasts sharply with the 1.62 gain at midday.

Corn May +2 391; Jly +2 399; Dec +2 415 (413-16)

Bean May +13 1047; Jly +13 1057; Nov +10 1043 (1037-51)

  Meal +3 390

  Oil -1 3152

Wheat May +18 491; Jly +17 506 (491-508)

   KC +16 523; MGE +19 626

Oats +4 237

Rice +32 1282

LC Apr -20 11202; Aug -2 10275; Oct +2 10672

FC Apr -87 13445; Aug -40 14105; Oct +35 14297

LH Apr +77 5290; May +285 6732; Aug +272 7887

Milk Apr +5 1446; May +17 1487

 

 

US$ -.3%

Dow +46 23797

SP +9 2613

NAS +35 6950

Tran -27 10119

VIX +.28 21.77

 

WTI +136 6342

Brent +144 6855

Gas +3 198

NG -1 269

HO +4 200

Eth +2 146

Gold +4 1340

Slvr +17 1653

 

2-yr +.008 2.063%

5-yr +.012 2.599%

10yr +.008 2.783%

30yr -.004 3.013%

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES – Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here

Comments

Post a Comment

Required Field