Market Closes - August 3, 2016

Posted on Aug 3, 2016

CBOT futures closed mixed with wheat futures leading the market higher. Most trading stayed above Tuesday’s lows.  Corn and soybeans probed to the high side but finished near the unchanged mark. Outside some good corn/bean export sales, there was little fundamental news.  A stronger US Dollar was offset by a strong rally in energy futures. Wheat was supported by short-covering (spec funds have a near-record short position) amid news of EU wheat prices rising from production cuts due to wet weather.

Cattle closed higher on optimism for stronger cash cattle trade this week and a firmer boxed beef market. Choice 1-3 600-900 lbs carcasses up 0.80 at 199.20; Select 1-3 600-900 lbs carcasses up 0.20 at 191.66

Lean Hog futures closed lower on lower cash hog prices.

FOB Plant Pork dropped .94 to 77.21. It was up .99 at midday. The August LH contract hit a new contract low.

Corn Sep +1 325; Dec +1 335 (332-38)

Bean Sep +2 973; Nov +2 955 (950-66)

   Meal +1 329

  Oil +24 3030

Wheat Sep +9 410; Dec +8 436

   KC +6 412; MGE +6 492

Oats +1 196

Rice -2 954

 

LC Aug +52 11675; Dec +60 11547; Feb +87 11482

FC Aug +200 14747; Oct +162 14370; Jan +115 13642

LH Aug -57 6835; Oct -102 5950; Dec -87 5537

Milk Aug -6 1696; Sep -1 1701

US$ +.4%

Dow +41 18355

SP +7 2164

NAS +22 5160

Tran +63 7711

   VIX -.51  12.86

 

WTI +163 4114

Brent +161 4341

Gas +4 135

NG +10 284

HO +4 130

Eth +1 138

Gold -8 1364

Slvr -25 2045

 

2-yr -.004 0.671%

5-yr -.002 1.073%

10yr +.008 1.545%

30yr +.012 2.298%

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