Market Closes - December 16, 2021 - Kentucky Farm Bureau

Market Closes - December 16, 2021

Posted on Dec 16, 2021

Corn Mar+5 591 (584-92); Jly +5 592; Dec +3 547

Bean Jan +15 1277 (1259-81); Jly +10 1290; Nov +5 1246

  Meal Jan unch 372 (371-76)

  Oil +118 5465

Wheat Mar +14 770 (751-73); Jly +11 768

  KC Mar +18 804; MGE +17 1027

Oats +1 712

Rice +13 1374

 

LC Dec +27 13527; Apr +2 14095; Jun -5 13655

FC Jan -85 16257; Mar -15 16432; May +15 16935

LH Feb +102 8035; Apr +67 8487; Jun +47 9610

Milk Jan -21 1959; Feb unch 1994

CBOT futures closed mostly higher with soybean oil and wheat futures leading the way up. The market headed higher after the opening of the day session due to strong weekly export sales for corn, wheat and soybeans. Corn and wheat export sales posted marketing-year highs. Soybean meal sales were at a marketing year low, so this may have weighed down meal futures. Fortunately, soybean oil popped higher and lifted soybeans to stronger closes; January beans closed at its highest level since September 29, barely surpassing the November 17th close. Corn and soybeans were also supported by the weaker US$ and a warmer, drier forecast in South America.

Live cattle settled slightly higher and feeder futures closed narrowly mixed. A stronger beef market let the market rebound some from yesterday’s losses. The cash fed market was inactive today. Fed steers have traded this week at $136-138/cwt and $218/cwt dressed. Choice beef ended up 2.71 at 262.97 and Select edged .69 higher at 248.14. Beef movement was a moderate 140 loads.

Lean hog futures closed higher with the nearby February LH contract leading the way. LH was supported by stronger pork values, a firm cash hog market and a strong pork export sales report of 31,100 MT, up 58% from last week and up 20% over the 4-week average. China was absent. FOB Plant Pork ended at 91.49, up 3.66 from yesterday. Ham value rose 10 to 90, picnic value rose 8 to 70, and belly value fell 6 to 125. Movement was a strong 328 loads.

 

US$ -.3% 95.98

Dow -30 35898

SP -41 4669

NAS -385 15180

Tran -103 16001

  VIX +1.30 20.59

 

WTI +110 7176

Brent +77 7465

Gas +4 217

NG -1 379

HO +4 226

Gold +36 1801

Slvr +95 2250 up >4%

 

2-yr -.072 0.615%

5-yr -.093 1.165%

10yr -.050 1.412%

30yr +.003 1.856%

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