Corn Mar +1 381 (377-81); Dec +1 403 (401-04)

Bean Mar +2 920 (913-21); Nov +2 960 (954-61)

  Meal -1 309

  Oil +25 3038

Wheat Mar +1 527; Jly -2 531 (527-32)

  KC +1 511; MGE unch 575

Oats +2 291

Rice +5 1073

 

LC Feb +97 12670; Jun +40 11740; Aug +2 11387

FC Mar -40 14382; May -32 14605; Aug -17 15012

LH Feb -95 5642; May -110 6872; Jly -105 7867

Milk Mar -3 1420; Apr -3 1448

CBOT futures closed mostly steady to a couple cents higher. Futures dropped in the first half-hour of trading, but reversed higher and closed near the day’s highs. Traders are waiting for Friday’s USDA crop reports which will encompass the missed January reports. Bullish traders may be hoping President Trump has something positive to say on trade and/or China in tonight’s State of the Union speech. The specs have a sizable long position in corn futures, but a small one in soybeans. Soybean oil futures have been doing all the work in 2019 to hold soybean futures up.

Cattle futures closed mixed with LC mostly higher and FC lower. LC futures were supported by Monday’s huge 3.39 gain in the Choice cutout along with a minimal setback in boxed beef today. Choice dropped .63 to 217.02 and Select lost .31 to 213.10. The Plains have turned cold again, which may offer some support. LC have rallied 3 straight days to help erase the big hit prices took on Thursday. FC today edged lower, but FC had a big up day on Monday.

Lean Hog futures closed moderately lower, erasing a good portion of Monday’s strong gains. While pork cutouts gained over a penny/lb yesterday, they dropped sharply today. FOB Plant Pork dropped 1.90 to 66.22 with ham value down 9% and Loin/Belly values down around 2%. The hog/pork market would really like to see a big Chinese purchase (China is on holiday this week).

To read a short history of U.S. farm policy and corn prices, click HERE for a paper by Ag Policy Analysis Center at UT.

US$ +.3%  96.09

Dow +172 25412

SP +13 2738

NAS +55 7402

Tran +42 10251

  VIX -.16  15.57

 

WTI -89 5400

Brent -53 6198

Gas -1 143

NG unch 266

HO -1 190

Eth -1 131

Gold unch 1314

Slvr -5 1584

 

2-yr -.006 2.526%

5-yr -.017 2.517%

10yr -.020 2.704%

30yr -.026 3.034%

Webinar to help wheat producers better manage Fusarium head blight

   The webinars are at 11 a.m. CST on Monday Feb. 11 and Monday Feb. 18. UK’s Carl Bradley is a presenter.

  Anyone can register for the free webinars.

Read UK AgNews at: https://news.ca.uky.edu/article/webinar-help-wheat-producers-better-manage-fusarium-head-blight

“Across Kentucky” podcast  - Click Here

KENTUCKY CASH GRAIN PRICES – Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here