Market Closes - December 15, 2021 - Kentucky Farm Bureau

Market Closes - December 15, 2021

Posted on Dec 15, 2021

Corn Mar -4 586 (582-96); Jly -5 586; Dec -2 544

Bean Jan +3 1262 (1251-66); Jly unch 1280; Nov -2 1241

  Meal Jan -5 372 (372-84)

  Oil +123 5347

Wheat Mar -31 756 (751-87); Jly -27 757

  KC Mar -26 785; MGE -12 1009

Oats -4 711

Rice -11 1361

 

LC Dec -177 13500; Apr -107 14092; Jun -95 13660

FC Jan -115 16342; Mar -192 16447; May -185 16920

LH Feb -75 7932; Apr -90 8420; Jun -75 956

Milk Jan -22 1976; Feb -3 1990

Except for soybean oil and old-crop soybeans, CBOT futures closed lower with huge losses in KC and Chicago wheat. KC/CHI declines were mostly technical in nature as chart support failed early in the day (described in Thursday and Monday’s comments). Corn and soybeans rallied in the first half-hour of the day session but succumbed to the growing losses in the wheat market. The strong soyoil market saved the soybean price today. NOPA reported a tightening of U.S. soyoil stocks. The U.S. is running out of time to sell soybeans to China as Brazil may have early supplies in January. USDA will release its weekly export sales report in the morning.

Cattle futures closed markedly lower led by the live cattle market. LC opened near steady but quickly headed south, pressured by a weakening cash fed market – as low as $136/cwt or $4/cwt lower than last week. Once December LC broke below Monday’s lows, prices accelerated lower into the close. Feeder cattle futures actually rallied back to around unchanged but then followed LC lower into the closing bell.   Choice beef slid .46 to 260.26 and Select fell 1.35 to 247.45. Beef movement was strong at 174 loads.

Lean hog futures closed moderately lower, weighed by the February LH’s premium to the cash market and export concerns. China plans to raise its import tariff on pork January 1st from 8% to 12%. A strong pork cutout limited futures losses.

FOB Plant Pork closed up 2.35 at 87.83 compared to 90.35 in the morning report. Pork movement was a low 260 loads.

US$ -.2% 96.34

Dow +383 35927

SP +76 4710

NAS +328 15566

Tran +96 16104

  VIX -2.60  19.29

 

WTI +14 7066

Brent +18 7388

Gas +2 213

NG +5 380

HO unch 222

Gold -8 1764

Slvr -38 2154

 

2-yr +.008 0.667%

5-yr +.016 1.250%

10yr +.024 1.463%

30yr +.043 1.862%
 

Farmers encouraged to apply for new agricultural exemption number
    Deadline for current farmers is January 1, 2022
    Click Here for the KDA article.

 

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