Corn and wheat futures closed moderately lower and at/near the day’s lows; the overnight price strength quickly faded during the day session.  Soybean futures didn’t see the same market pressure in part due to the soybean oil rally.  Outside markets are weighing on futures due to the stronger US Dollar and yesterday’s drop in energy futures. Wheat fundamentals have been bearish for some time and the current focus is on Russia’s huge wheat crop. Corn and wheat made new lows for the current down move, with some new contract lows established.

Cattle futures closed mostly very strong and near the day’s highs as short-covering pulled prices off the recent lows. Choice closed down .06 to 193.03 and Select lost .73 to 190/89.

Lean Hog futures closed lower and near the day’s lows which are new lows for the recent move.  October LH hasn’t been this low since April.  LH futures were pressured by a sharp drop in the pork cutout and weaker cash hog prices. FOB Plant Pork dropped 1.42 to 89.14 as the belly value dropped 12.24 to 158.32, while other primals rose in value.  At midday, the cutout was down 2.43.
 

Corn Sep -3 346; Dec -3 360 (360-65)

Bean Sep +1 934; Nov +1 937 (931-43)

  Meal unch 295

  Oil +26 3406

Wheat Sep -7 402; Jly -7 481 (481-91)

  KC -9 399;  MGE -14 641

Oats -5 239

Rice +2 1220

 

LC Aug +72 10672; Dec +202 11007; Feb +185 11232

FC Aug +227 14207; Oct +277 14227; Jan +215 13995

LH Oct -80 6387; Dec -80 5905; Feb -87 6375

Milk Aug -1 1652; Sep -21 1692

 

US$ +.4%

Dow +196 21900

SP +24 2453

NAS +84 6297

Tran +79 9201

  VIX -1.84   11.35

 

WTI +27 4764

Brent -3 5163

Gas +1 159

NG -2 294

HO +2 159

Eth unch 154

Gold -6 1291

Slvr -3 1698

 

2-yr +.025 1.326%

5-yr +.036 1.787%

10yr +.037 2.217%

30yr +.026 2.789%
 

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES – Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here