Corn Mar +2 524 (519-31); Jly +3 522; Dec unch 449

Bean Mar +1 1370 (1365-87); Jly +3 1354; Nov -3 1168

  Meal -4 438 (437-47)

  Oil +89 4343

Wheat Mar -7 661; Jly -3 648 (644-56)

  KC -1 636; MGE -2 635

Oats -3 360

Rice +3 1324

 

LC Feb +75 11410; Apr +107 11995; Jun +97 11712

FC Jan +57 13587; Apr +125 14187; Aug +40 15045

LH Feb -32 6810; Apr +82 7390; Jun +77 8527

Milk Feb -70 1643; Mar -42 1736

CBOT futures closes narrowly mixed except for a sharp rally in soybean oil futures for a second day. Futures ended low range; corn and soybeans sold off in the last 10-15 minutes. USDA reported corn and soybean export sales in this morning’s daily report; the weekly report is delayed until Friday. Today’s generally sideways market indicates traders are torn between improving short-term weather in South America and the projected tight supply-demand balances, especially in soybeans.

Ahead of Friday’s Cattle on Feed Report, cattle futures closed higher and near the day’s highs. Strength was provided by stronger beef cutouts and this week’s upward momentum in futures. Choice beef gained 2.29 to 221.20 and Select rose 3.00 to 210.28. Light cash trade occurred at relatively steady prices in the $110 and $173 areas. Feedlots are asking $113/cwt.

Beyond the February LH contract, lean hog futures closed higher with the June/July LH hitting new contract highs. LH was supported by sharply higher pork values in the morning and by follow-through buying from Wednesday higher market. FOB Plant Pork closed up 1.24 at 80.26, compared to the morning quote of 83.98, up 4.96.

US$ -.4% 90.06

Dow -12 31176

SP +1 3853

NAS +74 13531 New record high

Tran -227 12899

  VIX -.26 21.32

 

WTI -33 5298

Brent -12 5596

Gas unch 155

NG -5 249

HO unch 160

Eth -3 160

Gold +3 1870

Slvr +27 2604

 

2-yr -.006 0.125%

5-yr -.004 0.445%

10yr +.014 1.104%

30yr +.023 1.865%

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