Market Closes - August 19, 2021
Posted on Aug 19, 2021Corn Sep -12 550; Dec -14 551 (546-63); Dec22 -8 508
Bean Sep -35 1323; Nov -33 1320 (1314-52); Nov22 -21 1241
Meal Sep -6 351; Dec -7 354
Oil Sep -133 6060; Dec -156 5992
Wheat Sep -10 727 (716-37); Dec -8 743; Jly -5 726
KC Sep -8 715; MGE -6 917
Oats -2 492
Rice -9 1319
LC Aug -62 12340; Oct -90 12815; Dec -60 13397
FC Aug -57 15827; Oct -35 16547; Jan -45 16652
LH Oct -217 8692; Dec -157 8055; Feb -125 8322
Milk Aug -15 1604; Sep +6 1719
CBOT futures closed sharply lower led by the soy complex. Futures were pressured by forecasted rains and bearish outside markets – crude oil down and US Dollar higher. Soybeans posted large losses despite strong new-crop soybean export sales. It was a general “risk off” day.
Cattle futures closed lower under pressure from the bearish outside markets, weak beef export sales and “risk off” trade. While boxed beef values moved to annual highs, it’s not doing much for cash cattle prices. Traders were also preparing for tomorrow’s Cattle on Feed Report. Choice beef gained 1.55 to 341.63 and Select jumped 6.61 to 316.41. Movement was very light at 75 loads. Negotiated cash trade has been light with $122 in the S.Plains and $126 in NE.
Lean hog futures closed lower with the nearby October LH down sharply. LH was pressured by disappointing pork export sales and the “risk off” trading. FOB Plant Pork closed up only .79 at 121.40 compared to the morning quote of 128.16. Ham value went from up 23.42 to down 10.37. Surprisingly, pork movement was a disappointing 283 loads.
US$ +.4% 93.56 – level not seen since November 2020
Dow -67 34894
SP +6 4406
NAS +16 14542
Tran -184 14520
VIX +.10 21.67
WTI -171 6350
Brent -178 6645
Gas -7 208
NG -2 383
HO -5 197
Eth unch 222
Gold -1 1780
Slvr -19 2323
2-yr +.003 0.222%
5-yr -.009 0.769%
10yr -.030 1.243%
30yr -.040 1.873%
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