Market Closes - August 22, 2016

Posted on Aug 22, 2016

CBOT futures closed mixed with soybeans and meal moving higher on strong export news. Soybeans traded to new highs for the August rally and closed at the highest level since July 19. Corn and wheat futures moved lower after prices had reached new highs on Friday. Corn and soybean conditions continue to hold steady week to week. More private crop estimates will come out this week and traders will compare them to the August Crop Report from USDA.

Week ending August 21
U.S. Corn Conditions
.      Good/Excellent  Poor/V.Poor
This Week      75%         7%
Last Week      74%         7%
Last year      69%        10%

U.S. Soybean Conditions
.      Good/Excellent  Poor/V.Poor
This Week      72%         7%
Last Week      72%         7%
Last year      63%        11%

U.S. Pasture and Range
51% good/excellent vs 52% year ago.
18% poor/v.poor vs 16% year ago.

Live Cattle futures closed little changed after trading a fairly wide range high to low. Futures started the day moving lower thanks to Friday’s Cattle on Feed Report that showed more-than-expected cattle in feedlots. However, futures rallied to the plus-side on a strong boxed beef market, although the gains were erased in the final minutes of trading. Choice beef ended up 1.07 at 201.14; Select up 0.27 at 193.87. Feeder futures closed higher for a second day as the recent downtrend was reversed Friday.

Lean Hog futures closed lower in nearby contracts and higher in the deferred ones. Futures moved higher after the open but turned south within an hour. Cash hog prices weakened, but pork values rose. FOB Plant Pork gained 1.24 to 75.80.

Corn Sep -1 333; Dec -1 342 (340-44)
Bean Sep +8 1035; Nov +11 1016 (999-1020)

  Meal +4 334

  Oil -25 3389

Wheat Sep -12 415; Dec -9 435; Jly -4 481

  KC -5 414; MGE +1 532

Oats +2 172

Rice +22 1047

 

LC Aug -12 11342; Dec unch 111.72; Feb unch 11185

FC Aug +95 14702; Oct +35 14155; Jan +30 13377

LH Oct -77 6115; Dec -40 5705; Feb -2 6182

Milk Sep -6 1782; Oct -3 1755

 

US$ unch

Dow -23 18529

SP -1 2183

NAS +6 5245

Tran -36 7895

  VIX +.93 12.27

 

WTI -147 4705

Brent -181 4907

Gas -3 148

NG +9 268

HO -3 149

Eth unch 148

Gold -3 1343

Slvr -46 1886

 

2-yr -.004 0.742%

5-yr -.026 1.136%

10yr -.036 1.544%

30yr -.047 2.239%

Kentucky Weekly Livestock Summary for the week of Aug 15-20, 2016.
Receipts 
This Week            Last Week         Last Year
  17,474               19,208            15,394

Compared to last week steer and heifer calves sold mostly steady to 5.00 higher with moderate to good demand. Yearlings were unevenly steady with moderate to good demand.  Quality was good through attractive. Slaughter Cows and slaughter bulls sold unevenly steady with moderate supply and good demand.

Kentucky Farm Bureau Minute video  - Click Here
KENTUCKY CASH GRAIN PRICES Click Here
KENTUCKY LIVESTOCK AUCTIONS --  Click Here