Market Closes - January 14, 2020

Posted on Jan 14, 2020

Corn Mar unch 389 (388-90); Jly unch 402; Dec unch 404

Bean Mar unch 942 (938-48); Jly unch 967; Nov unch 969

  Meal -2 302 (301-307)

  Oil +12 3407

Wheat Mar +6 568; Jly +5 572 (564-76)

  KC +4 497; MGE +1 556

Oats +2 313

Rice +13 1335

 

LC Feb +30 12685; Jun +22 11972; Aug +17 11727

FC Jan -12 14590; Apr -15 14865; Aug -12 15540

LH Feb +177 6767; Apr +162 7500; Jun +135 8682

Milk Jan -2 1699; Feb -4 1686

Ahead of tomorrow’s midday signing of the US/China Phase 1 trade agreement, corn and soybean futures closed steady in narrow range trading and wheat continued to trend higher. Favorable weather in South America and high prices for Brazil’s corn weighed on U.S. futures. Wheat was supported by the uptrend on the charts and indications Russia may limit exports near term.

Cattle futures closed little changed but remain not far from the contract highs. Offering some support was a stronger boxed beef market. Choice rose 2.21 to 212.76 and Select gained 2.07 to 210.30.

Lean hog futures posted strong gains even as cash hog and pork values did not.  LH was supported by tomorrow’s US/China trade deal signing as traders remain optimistic pork will be a top item on China’s shopping list. February LH bounced off key chart support, possibly forming a double bottom on the chart. FOB Plant Pork changed very little, gaining .05 to 74.29. Hog slaughter and the average carcass weight are above recent years’ levels.

US$ steady 97.39

Dow +33 28940

SP -5 3283

NAS -23 9251

Tran +102 11165

  VIX +.07 12.39

 

WTI +8 5816

Brent +24 6444

Gas unch 166

NG unch 218

HO +1 190

Eth -1 136

Gold -4 1547

Slvr -19 1781

2-yr -.016 1.570%

5-yr -.033 1.618%

10yr -.035 1.813%

30yr -.035 2.272%

“Across Kentucky” podcast  - Click Here

KENTUCKY CASH GRAIN PRICES Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here