Market Closes - August 15, 2019

Posted on Aug 15, 2019

Corn 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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