Market Closes - February 25, 2021

Posted on Feb 25, 2021

Corn Mar -4 555 (542-60); Jly -7 540; Dec -3 474 (469-79)

Bean Mar -18 1406 (1392-1443); Jly -15 1397; Nov -7 1231 (1223-53)

  Meal Mar -4 424 (420-33)

  OIL -18 5096

Wheat Mar -8 672; Jly -7 663 (655-72); Dec -6 663

  KC -12 644; MGE -5 641

Oats +1 369

Rice -6 1280

 

LC Feb +42 11700; Apr -55 12167; Jun -60 11950

FC Mar +5 14042; May +42 14722; Aug +40 15425

LH Apr +32 8975; Jun -15 9575; Aug +15 9447

Milk Mar +54 1657; Apr +75 limit 1740

CBOT futures closed significantly lower, pressured by disappointing weekly export sales announced this morning. Soybean futures hit new contract highs overnight before moving sharply lower during the day. Corn and wheat export sales were marketing year lows. However, both commodities managed to cut their losses to close mid-range. The sharp drop in U.S. equity indexes and rising interest rates could lead to investors reducing their risk in commodities. Keep in mind that the speculative funds have huge long positions in the soy complex and corn futures.

Live cattle closed mixed and feeder futures ended slightly higher. The soon-to-expire February LC contract posted a gain to $117 which is a $3.00 premium to the cash market. LC overcame a disappointing weekly beef export sales report – down 66% from the 4-week average. Choice beef slipped .36 to 240.39 and Select fell 1.00 to 228.79 on lighter movement. Light trade occurred at steady prices -- $114/cwt live and $182 dressed.

Lean hog futures closed mixed with the April LH up slightly as the October-forward LH contracts posted the bigger losses. April LH made a new contract high and added to yesterday’s $3.00 limit-up move. Since the rally started on January 20, April LH are up over $16/cwt. Gains today were limited by a disappointing weekly pork export sales number that was down 40% from the 4-week average. FOB Plant Pork jumped 2.99 to 95.13. Rib was the only cut with a lower value. Ham and picnic values rose around 6% and belly value increased 2.5%.

US$ +.2% 90.23

Dow -560 31402

SP -96 3829

NAS -479 13119

Tran -258 13372

  VIX +7.55 28.89

 

WTI +33 6355

Brent +15 6719

Gas unch 198

NG -3 276

HO unch 190

Eth unch 169

Gold -29 1769

Slvr -46 2740

 

2-yr +.045 0.172%

5-yr +.171 0.797%

10yr +.115 1.504%

30yr +.042 2.284%

Warren County set a record high county corn yield of 210 bushels. It was one of four counties that had yields in excess of 200 bushels per acre. The top five counties for yield include:

Warren County – 210.2 bushels per acre

Union County – 205.5 bushels per acre

Daviess County – 203.5 bushels per acre

LaRue County – 201.1 bushels per acre

Butler County – 199.0 bushels per acre

 

Henderson County is the leading soybean producing county in Kentucky for 2020, with production totaling 5,363,000 bushels, harvested from 90,900 acres. Rounding out the top 5 are Daviess, Graves, Christian and Logan counties. The top five counties account for 23 percent of Kentucky’s soybean production.  

Union County had the highest soybean yield at 63.9 bushels per acre, and a record high county yield. The top five counties for yield include:

Union County – 63.9 bushels per acre

Barren County – 60.9 bushels per acre

Webster County – 60.1 bushels per acre

Daviess County – 60.0 bushels per acre

Meade County – 59.9 bushels per acre

“Across Kentucky” podcast  - Click Here

KENTUCKY CASH GRAIN PRICES Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here