Market Closes - July 14, 2021
Posted on Jul 14, 2021Corn Sep +17 568; Dec +18 559 (537-63); Dec22 unch 494
Bean Aug +38 1453; Nov +31 1383 (1343-86); Nov22 +24 1277
Meal Aug +12 369; Dec +11 371
Oil Aug +68 6622; Dec +27 6375
Wheat Sep +20 654; Dec +19 662; Jly22 +17 669
KC Sep +16 628; MGE +11 873
Oats +10 434
Rice +8 1314
LC Aug -50 12125; Oct -40 12677; Dec -37 13192
FC Aug -187 15695; Oct -242 16122; Jan -202 16307
LH Jly +12 11237; Aug -82 10510; Oct -15 8922
Milk Jly -5 1681; Aug -33 1775
CBOT futures closed sharply higher and near the day’s highs. The July contracts expired today. Futures found support from a hotter, drier extended forecast. With today’s rally, soybean and Chicago wheat futures closed the down gaps from July 6, but corn and soybean meal did not. December Corn has retraced around 50% of the dollar-plus drop off the July 1st high.
Cattle futures closed lower and near the day’s lows. Losses were amplified in the feeder futures due to the big rally in corn prices. Light cash trade and weaker live and beef values weighed on the market. Choice beef dropped .46 to 272.88 and Select fell 2.99 to 253.75. Light cash trade in Nebraska was reported at $123/cwt, down $2 from Monday.
Lean hog futures closed lower after opening higher this morning. LH are pausing after a strong 3-day rally. FOB Plant Pork ended down .12 at 118.69. Lower values for the loin, butt, and rib were offset by gains in the value of ham and picnics. Weekly pork export sales will be reported in the morning.
US$ -.5% 92.36
Dow +44 34933
SP +5 4374
NAS -33 14645
Tran +15 14689
VIX -.79 16.33
WTI -229 7240
Brent -191 7458
Gas -3 227
NG -3 365
HO -5 214
Eth unch 232
Gold +19 1829
Slvr +19 2633
2-yr -.030 0.225%
5-yr -.053 0.795%
10yr -.067 1.348%
30yr -.061 1.976%
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