Corn Mar +15 564 (549-66); Jly +12 548; Dec +6 458

Bean Mar +21 1388 (1365-92); Jly +20 1368; Nov +19 1180

  Meal Mar +6 437 (428-39)

  Oil +97 4563

Wheat Mar +14 656; Jly +11 643 (633-44)

  KC +14 639; MGE +9 635

Oats +6 355

Rice -3 1297

 

LC Feb -15 11657; Apr -17 12395; Jun +5 12002

FC Mar -82 13745; May -120 14357; Aug -95 15140

LH Feb +120 7217; Apr +35 8065; Jun +52 9007

Milk Feb -5 1559; Mar -19 1650

CBOT futures closed sharply higher and near the day’s highs. Futures were supported by this morning’s weekly export inspections report, expectations for a friendly USDA WASDE report on Tuesday, higher energy futures and sellers’ reluctance to sell ahead of the WASDE (Noon EST). Commodity prices are generally supported by traders expecting increasing inflation due to the massive federal monetary and fiscal stimulus being doled out by Congress and the Federal Reserve. Old-crop corn futures made new contract highs today. Nearby corn is at a level last seen in July 2013 when futures collapsed from the $7.00+ level. Wheat is mostly following corn and soybean futures.

Live cattle closed mostly higher by small amounts while feeder futures ended moderately lower due to soaring corn futures. February LC was weighed down by its premium to recent cash price around $114.  April, June and August LC contracts traded new contract highs. Choice beef rose 1.62 to 236.20 and Select slipped .18 to 220.61 on lighter volume. Negotiated cash trade was inactive. Last week’s cash prices were $114 live and $178-180/cwt dressed.

Lean hog futures closed higher as traders remain bullish on export demand, including from China. The pork cutout and cash hog prices were firm in the morning. FOB Plant Pork closed up .69 at 84.87 on light movement. April and beyond LH contracts traded new contract highs.    

 

US$ steady 90.96

Dow +238 31386

SP +29 3916

NAS +131 13988

Tran +86 12875

  VIX +.37 21.24

 

WTI +124 5809

Brent +136 6070

Gas +3 168

NG +2 288

HO +4 175

Eth unch 171

Gold +18 1829

Slvr +34 2735

 

2-yr +.006 0.113%

5-yr +.015 0.482%

10yr +.002 1.172%

30yr -.018 1.956%

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