Market Closes - December 20, 2017

Posted on Dec 20, 2017

Again today, soybean futures closed lower and continued the downtrend started 2 weeks ago. The weather forecasts are too favorable in South America. Wheat futures closed mostly higher with traders listing dry conditions in the Plains and much colder temperatures arriving as reasons for some short-covering.  Corn closed up 2 cents on the wheat strength and rising corn values in China which may lead to U.S. export sales. For the second day in a row, corn futures moved up/away from the contract lows.

Cattle futures closed moderately lower in LC and sharply lower in Feeder Cattle. Futures were pressured by a sharp drop in the Choice cutout value and bearish expectations for Friday’s Cattle on Feed Report. Choice carcasses down 3.67 at 198.09; Select up 1.17 at 185.49. 

Lean Hog futures closed strongly higher with prices moving up steadily throughout the trading day. FOB Plant Pork gained .24 to 76.51. Traders are preparing for Friday’s Quarterly Hogs and Pigs Report. The average trade guess calls for breeding stock up 0.7 percent over year-ago and market hog inventory up 2.1 percent.

Corn Mar +2 349 (347-50); Jly +2 366; Dec +2 382

Bean Jan -2 954 (953-60); Jly -2 986; Nov -1 976

  Meal unch 316

  Oil -26 3296

Wheat Mar +4 423; July +3 450 (442-50)

  KC +2 422; MGE unch 618

Oats -1 245

Rice +12 1184

 

LC Dec -60 11940; Apr -152 11995; Jun -177 11180

FC Jan -342 14177; Apr -322 14045; Aug -215 14400

LH Feb +147 6837; Apr +127 7295; Jun +122 8250

Milk Dec -2 1542; Jan -5 1388

US$ -.1%

Dow -28 24727

SP -2 2679

NAS -3 6961

Tran +93 10629

  VIX -.36 9.67

 

WTI +53 5809

Brent +74 6454

Gas +4 174

NG -5 264

HO unch 194

Eth +2 128

Gold +5 1270

Slvr +12 1627

 

2-yr +.004 1.861%

5-yr +.022 2.242%

10yr +.038 2.501%

30yr +.057 2.880%

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