Market Closes - December 21, 2017

Posted on Dec 21, 2017

Price action continued the pattern seen Tuesday and Wednesday – soybeans dropping and corn/wheat rising. Market factors remain the same – beneficial South American weather as well as unfavorable weather and soil moisture in the Plains (with the La Nina favoring this to continue through winter). Corn and wheat were also supported by today’s export sales report. Technically, corn closed at the 20-day moving average and KC/Chicago wheat ended just above the 20-day MA. January Soybeans tested the September low; the next support levels are 929 and 915.

Cattle futures closed slightly higher, correcting part of yesterday’s losses.  Choice carcasses ended up 0.03 at 198.12; Select up 1.38 at 186.87.

Lean Hog futures closed near steady and mid-range. LH futures were supported by higher cash hog prices and pork values. FOB Plant Pork closed up .74 at 77.25. The quarterly hog report will be released Friday afternoon.
 

Corn Mar +2 351 (348-52); Jly +2 368; Dec +1 384

Bean Jan -5 949 (947-57); Jly -5 981; Nov -4 971

   Meal -1 314

   Oil -29 3267

Wheat Mar +3 427; Jly +2 452 (448-53)

   KC +2 424;  MGE -1 617

Oats -1 244

Rice +15 1199

 

LC Dec +22 11962; Apr +62 12057; Jun +57 11237

FC Jan +115 14292; Apr +65 14110; Aug +45 14445

LH Feb +20 6857; Apr +12 7307; Jun +12 8262

Milk Dec unch 1544; Jan +12 1392

US$ -.1%

Dow +56 24782

SP +5 2685

NAS +4 6965

Tran +1 10630

  VIX -.05 9.67

 

WTI +14 5823

Brent +20 6476

Gas +1 175

NG -1 262

HO +1 195

Eth +1 129

Gold unch 1270

Slvr -4 1624

2-yr +.021 1.882%

5-yr +.001 2.243%

10yr -.014 2.483%

30yr -.037 2.838%

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