Market Closes - August 19, 2020

Posted on Aug 19, 2020

Corn Sep -2 325 (323-27); Dec -2 340 (338-42)

Bean Sep unch 9112 (908-18); Nov unch 914 (910-19)

  Meal Sep unch 296 (294-98)

  Oil +9 3167

Wheat Sep +4 512 (506-14); Dec +4 522; Jly +2 536

  KC +7 437; MGE +3 510

Oats -5 268

Rice +12 1204

 

LC Aug +75 10747; Oct +95 11082; Feb +45 11605

FC Aug +32 14355; Oct +42 14680; Jan +27 14472

LH Oct +112 5255; Dec +40 5357; Feb +2 6115

Milk Aug -31 1953; Sep -59 1541

 

CBOT futures closed narrowly mixed with little new info to direct prices. Traders are waiting for better direction on yields which will depend in part on rainfall the balance of August. Today’s NWS CPC outlook maps show cooler and wetter weather in the 8-14 day period. Weakness in corn futures on Tuesday evening closed the upside chart gaps created Sunday evening. China showed up on this morning’s daily soybean export sale report. Wheat futures bounced back from Tuesday’s losses; KC and MGEX outperformed Chicago wheat.

Cattle futures closed mostly higher with higher beef values and steady cash fed cattle. Choice beef closed up 2.18 at 223.04 and Select rose 1.00 to 205.65. Cash fed trading appears to be at steady money with Tuesday, but volume has been very light. Formula purchases averaged 886 pounds and $166.13/cwt.

Lean hog futures closed higher with the October and December LH contracts leading the way since they lost the most yesterday. Fob Plant Pork closed up .93 at 74.99, down from the morning quote of 76.81. A huge 19% gain in ham’s value offset losses in the other cuts. Bellies fell 7%; picnics dropped 7%; and loins lost 4%.

US$ +.90  93.03

Dow -85 27693

SP -15 3375

NAS -64 11146

Tran +18 10883

  VIX +1.03 22.54

 

WTI -16 4296

Brent -24 4522

Gas unch 128

NG +2 243

HO -1 125

Eth +2 131

Gold -61 1939

Slvr -135 2672

 

2-yr unch 0.145%

5-yr +.009 0.288%

10yr +.016 0.685%

30yr +.027 1.426%

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