Market Closes - January 11, 2018

Posted on Jan 11, 2018

Another day of mixed closes with little change in corn prices and lower prices for soybeans.  Soybeans tried to move higher early this morning, but soon headed south and worked lower throughout the trading day. Soybeans have posted lower closes for 4 straight days. Old-crop moved to new lows (as did soybean meal futures), while the November Soybean contract respected very definitive chart support at $9.70 (triple-bottom).  Soybeans continued to be pressured by the near-record 2018 soybean crop expected in Brazil.

USDA will release several key reports at Noon EST tomorrow.  Ag futures markets are closed on Monday due to the MLK Holiday.

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Extension to offer dicamba applicator trainings

     Extension weed scientists with the University of Kentucky College of Agriculture, Food and Environment are just one group offering workshops to help Kentucky applicators comply with the new rules.  

    The UK trainings, approved by the Kentucky Department of Agriculture, are available by Clicking HERE.

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Live cattle futures closed near unchanged after testing new lows for the current move. February LC’s discount to this week’s cash $120 market discouraged selling, but weaker boxed beef limited the gains. Choice down 0.99 at 209.07; Select down 0.28 at 202.95.

Lean Hog futures opened steady with yesterday’s closes but closed sharply lower and near the day’s lows. The selling was encouraged by yesterday’s bearish price reversal. Given the February LH’s sharp premium to the cash index, sellers had additional incentive.  FOB Plant Pork closed down .41 to 79.04. At midday, it was down 1.12.
 

Corn Mar unch 349 (348-50); Jly unch 365; Dec unch 383

Bean Mar -5 950 (949-57); Jly -5 970; Nov -2 971

  Meal -3 313

  Oil -30 3315

Wheat Mar -1 433; Jly -2 459 (456-61)

  KC unch 440; MGE -5 629

Oats unch 250

Rice -17 1173

 

LC Feb +20 11707; Apr +20 11887; Jun +22 11100

FC Jan -55 14382; Apr -50 14185; Aug +7 14502

LH Feb -155 7097; Apr -195 7382; Jun -187 8367

Milk Jan +4 1382; Feb +9 1322
 

US$ -.5%  91.90

       ** Stock Indexes closed at RECORD HIGHS **

Dow +206 25575

SP +19 2768

NAS +58 7212

Tran +254 11284

  VIX +.06 9.88%

 

WTI +23 6380

Brent -9 6911

Gas unch 184

NG +18 308

HO unch 208

Eth +2 135

Gold +3 1322

Slvr -7 1697
 

2-yr +.009 1.981%

5-yr -.003 2.324%

10yr -.012 2.537%

30yr -.023 2.868%
 

Kentucky USDA Farm Service Agency (FSA) state committee appointed.
Committee Chair Sharon Furches – Calloway County
   Tom Flowers – Shelby County
   Kenny Imel – Greenup County
   Brenda Paul – Paris
   Bart Peters – Cadiz

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here