Market Closes - August 8, 2019
Posted on Aug 8, 2019Corn Sep +4 411; Dec +4 418 (413-20)
Bean Sep +16 870; Nov +16 883 (865-85)
Meal +2 297
Oil +100 2901
Wheat Sep +10 498; Jly +7 517 (508-19)
KC +1 418; MGE unch 520
Oats +6 275
Rice -1 1135
LC Aug +35 10795; Dec +45 11162; Feb +55 11587
FC Aug +30 13985; Oct +72 13962; Jan +42 13785
LH Aug -37 7735; Oct +102 6787; Dec +182 6525
Milk Aug +4 1754; Sep -4 1776
CBOT futures closed higher and near the day’s highs on short-covering in the soy complex and trader positioning ahead of Monday’s midday crop reports. A dollar rally in soybean oil futures lifted the soybean market.
Cattle futures closed slightly higher but generally within yesterday’s trading ranges. A strong weekly export sales report (+94%) for beef supported futures. Choice beef gained .39 to 216.88 and Select lost .34 to 192.37.
Beyond the August LH contract, lean hog futures closed higher to sharply higher as additional short-covering took place. Support came from an improved weekly pork export sales and stronger pork values. FOB Plant Pork closed up .29 at 88.69.
US$ steady
Dow +371 26378
SP +54 2938
NAS +176 8039
Tran +174 10324
VIX -2.58 16.91
WTI +182 5285
Brent +153 5776
Gas +3 165
NG +4 212
HO +3 179
Eth +2 144
Gold -6 1502
Slvr -27 1693
2-yr +.048 1.619%
5-yr +.042 1.544%
10yr +.026 1.717%
30yr +.033 2.228%
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