Corn Sep unch 342; Dec unch 355 (352-59)

Bean Sep +11 835; Nov +11 846 (826-54)

  Meal +3 329

  Oil -33 2764

Wheat Sep -8 488; Dec -8 504; Jly -7 535

   KC -7 484; MGE -3 528

Oats -5 231

Rice +6 1204

 

LC Aug +237 10692; Oct +127 10865; Feb +85 11660

FC Aug +165 15237; Oct +127 155262; Jan +92 15045

LH Aug -95 6920; Oct -130 5400; Dec -122 4917

Milk Jly -1 1426; Aug +32 1516

CBOT futures ended the day from several cents lower in wheat to several cents higher in soybeans, with corn closing flat. Futures were pressured overnight but short-covering in soybeans helped corn test the upper end of its range. The speculative funds have been aggressive sellers – taking their positions to record large positions for July (according to market reports). With the 6-14 NWS temperature outlook at normal to below-normal levels, traders will not be worried about yields (see crop ratings below which remain far ahead of year-ago levels). Wheat closed near the bottom of its range, but this followed two straight days of strong gains. Traders continue to look for the seasonal low in wheat.

Week ending July 15

U.S. Corn Conditions
.      Good/Excellent  Poor/V.Poor
This Week      72%          9%
Last Week      75%          7%
Last year      64%         11%

U.S. Soybean Conditions
.      Good/Excellent  Poor/V.Poor
This Week      69%          8%
Last Week      71%          7%
Last year      61%         11%

  ** 26% setting pods vs 11% average

U.S. Pasture and Range
47% good/excellent vs 52% year ago.
24% poor/v.poor vs 19% year ago.

Cattle futures opened higher and closed even higher in the upper part of the trading range.  The gains were led by the nearby August LC contract as traders worked to narrow the August LC’s discount to Friday’s cash trade around $110.50. Today’s price strength was very positive but futures remain below the early July highs. Choice beef ended down .38 at 203.76 (the lowest level since December) and Select fell .70 to 195.67.

Lean Hog futures closed sharply lower as traders remain concerned about rising production and lower exports due to the new tariffs. On the positive side, LH futures remain above the contract lows recently set. Generally, traders expect the cash market to come down to the futures level. FOB Plant Pork dropped .45 to 83.37.

US$ -.2%

Dow +45 25064

SP -3 2798

NAS -20 7806

Tran -111 10435

  VIX +.65 12.83

 

WTI -295 6806

Brent -340 7193

Gas -10 200

NG +1 276

HO -8 205

Eth unch 140

Gold -1 1240

Slvr unch 1581
 

2-yr +.017 2.599%

5-yr +.022 2.750%

10yr +.025 2.856%

30yr +.027 2.960%
 

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES – Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here