Market Closes - August 4, 2021
Posted on Aug 4, 2021Corn Sep -5 546; Dec -5 547 (541-57); Dec22 +1 506
Bean Sep +8 1332; Nov +6 1326 (1314-30); Nov22 +4 1253
Meal Sep +4 351; Dec +4 354
Oil Sep -13 6232; Dec -26 6154
Wheat Sep -7 717 (714-39); Dec -6 729; Jly unch 715
KC Sep -13 694; MGE -17 903
Oats -1 444
Rice -20 1319
LC Aug +80 12405; Oct +82 12897; Dec +75 13395
FC Aug +30 15920; Oct +40 16545; Jan +32 16680
LH Aug +40 10947; Oct -125 9012; Dec -72 8352
Milk Aug +18 1614; Sep +31 1624
CBOT futures closed mixed with soybeans and meal the upside winners today on corrective buying. Corn ended down a nickel after trading a nickel higher. Time is running out on weather making a big difference in corn. The trade won’t know until August 12 how great yields in the east and central regions make up for poor yields in the northwest Corn Belt. Wheat futures rallied to new summer highs right after the opening but then collapsed, closing lower and near the day’s lows. On the charts, KC and Chicago wheat posted bearish outside down days. Tomorrow’s weekly export sales report isn’t expected to hold much news. Crude oil posted another big loss today; price is down about $6/barrel since last week’s high.
Cattle futures closed higher led by the live cattle market based on stronger cash fed prices and boxed beef values. LC futures are nearing the contract highs. Feeders still didn’t benefit much from lower corn futures. Choice beef gained 3.50 to 289.34 and Select rose 3.66 to 271.15. Beef movement was a strong 146 loads. Negotiated cash trade has picked up midweek with prices steady to $2/cwt higher. Live price ranged mostly $121-125/cwt. Dressed price averaged around $198/cwt.
Except for the August LH, lean hog futures closed lower pressured by continuing weakness in the pork cutout. August LH was supported by its discount to the LH Index representing cash carcass price. FOB Plant Pork ended down 4.68 at 122.99 compared to 126.39 in the morning. The sharp loss resulted from sizable losses in the values of loin, ham, butt and picnic.
US$ +.3% 92.27
Dow -324 34793
SP -20 4403
NAS +19 14781
Tran -342 14244
VIX -.07 17.97
WTI -241 6762
Brent -222 7019
Gas -3 224
NG +13 415
HO -5 207
Eth unch 222
Gold unch 1810
Slvr -15 2543
2-yr +.006 0.180%
5-yr +.019 0.670%
10yr +.001 1.175%
30yr -.021 1.831%
“Across Kentucky” podcast - Click Here
KENTUCKY CASH GRAIN PRICES – Click Here
KENTUCKY LIVESTOCK AUCTIONS -- Click Here
Comments