Corn Sep -8 550; Dec -7 552 (547-65); Dec22 unch 505

Bean Sep -32 1324; Nov -34 1320 (1309-48); Nov22 -16 1249

  Meal Sep -9 347; Dec -10 350

  Oil Sep -126 6245; Dec -79 6180

Wheat Sep -5 724 (718-35); Dec -4 735; Jly -6 715

  KC Sep +4 707; MGE -3 920

Oats -2 445

Rice -9 1340

 

LC Aug +112 12325; Oct +87 12815; Dec +45 13320

FC Aug +65 15890; Oct +57 16505; Jan +60 16647

LH Aug +157 10907; Oct +187 9137; Dec +137 8425

Milk Aug -7 1604; Sep -19 1596

CBOT futures closed lower to sharply lower, led by soybean meal and soybean futures. Aggressive selling of the soy complex was related to the better-than-expected crop rating of 60% excellent/good for soybeans. This was up 2 points from last week and 3 points better than trade expectations. Improved rain prospects for part of the Corn Belt were also credited for the sell-off. The NOAA 6-10, 8-14 day outlooks continue to show above-normal temperatures for most of the U.S. east of the Rockies.

Cattle futures closed higher led by the nearby LC contract. LC were supported by a very strong beef market. Feeder cattle didn’t respond much to the lower CBOT. Choice beef jumped 4.84 to 285.84 and Select rose 4.11 to 267.49. Beef movement of 130 loads is similar to Monday’s count. Negotiated cash trade was limited with a few at $125/cwt live in the western Corn Belt.

Lean hog futures closed strongly higher and at the upper part of the range. LH was supported by a strong pork market which disappeared later in the day. FOB Plant Pork closed down 1.04 at 127.67, much below the morning quote of 131.76. The biggest change was the ham value went from 113.32 in the morning to 99.01 in the afternoon; this is down 18.74 from Monday. Pork movement was a heavy 309 loads.

US$ steady 92.07

Dow +279 35117

SP +36 4423

NAS +80 14761

Tran +210 14587

  VIX -1.63 17.83

 

WTI -82 6979

Brent -67 7222

Gas unch 227

NG +13 406

HO -1 212

Eth unch 222

Gold -9 1809

Slvr +2 2560

 

2-yr -.004 0.172%

5-yr -.001 0.649%

10yr +.004 1.176%

30yr -.004 1.847%

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