Market Closes - August 15, 2019
Posted on Aug 15, 2019Corn Sep +2 361; Dec +1 371 (369-75)
Bean Sep -7 858; Nov -7 871 (870-85)
Meal -3 292
Oil -10 2907
Wheat Sep -5 469; Jly -3 491 (490-96)
KC +5 390; MGE -3 503
Oats -2 275
Rice -18 1132
LC Aug unch 10020; Oct +2 9852; Feb -2 10955
FC Aug +130 13577; Oct +37 13375; Jan +2 13177
LH Oct -177 6500; Dec -102 6375; Feb -105 7025
Milk Aug -3 1761; Sep -7 1773
CBOT futures closed steady to lower but with closes near the day’s lows. After a wild week, corn futures traded a narrow range and closed near steady. Nearly all of the futures showed strength overnight, but headed south once trading reopened at 8:30 am. Poor fundamentals continue to weigh on the market. Drought continues to expand in the U.S. with over 24% of the land included.
Live Cattle futures closed steady after an opening rally failed. Feeder cattle once again outperformed Live Cattle futures. Boxed beef continues to strengthen due to the loss of the large Kansas beef plant. Choice beef closed up 3.78 at 236.12 and Select jumped 4.75 to 210.67. The CH/Sel spread is 25.45.
Lean Hog futures have been on a roller coaster with alternating up and down days. Today is a down day. LH futures rallied sharply at the opening in conjunction with the weekly pork export sales report that showed China buying over 18 MT. Enthusiasm quickly faded with LH futures trending lower the rest of the day to close near the day’s lows. FOB Plant Pork is down .67 to 88.23.
US$ +.1% 98.09
Dow +100 25579
SP +7 2848
NAS -7 7767
Tran -78 9764
VIX -.98 21.12
WTI -66 5459
Brent -116 5832
Gas -3 164
NG +8 222
HO -3 181
Eth +1 127
Gold +6 1522
Slvr -3 1725
2-yr -.100 1.477%
5-yr -.092 1.396%
10yr -.079 1.502%
30yr -.067 1.960% hit new Record Low today
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