Market Closes - July 18, 2018

Posted on Jul 18, 2018

Corn Sep +1 347; Dec +1 361 (359-63)

Bean Sep +3 848; Nov +2 858 (850-63)

  Meal -1 328

  Oil +34 2807

Wheat Sep -3 494; Dec -1 511; Jly +1 541

  KC -3 488; MGE -5 528

Oats +2 234

Rice -18 1182

 

LC Aug +252 10895; Dec +157 11420; Feb +172 11812

FC Aug +317 15445; Oct +272 15472; Jan +210 15242

LH Aug -70 6720; Oct -27 5192; Dec -45 4702

Milk Aug +9 1509; Sep +17 1562

 

CBOT futures closed narrowly mixed after trading mostly in relatively small price ranges. This week’s price action has been positive in that we’ve seen three consecutive days of higher closes in corn and soybean futures; the cumulative gains are around 6 cents in corn and 20 cents in soybeans. This small corrective bounce signals the speculative funds have taken a break from selling. With U.S. soybeans cheaper than South American ones and the narrow futures spread, it looks like we may be in a value area for now. Traders will look to tomorrow morning’s export sales report for direction.

Live and Feeder cattle futures closed strongly higher with the nearby August contracts leading the way up. Today’s price strength pushed prices up to new 4-5 month highs for the August LC and the Feeder contracts. Support came from light cash trade at $112/cwt and traders’ optimism, as well as higher boxed beef values. Choice beef closed up .41 at 204.80 and Select gained .23 at 197.09.

In contrast, Lean Hog futures closed lower with the August and October LH contracts making new contract lows. LH was pressured by falling pork values, rising slaughter numbers and export trade problems. FOB Plant Pork dropped 1.85 to 82.35 and loin value and ham value fell 5%.

US$ +.2%

Dow +79 25199

SP +6 2816

NAS -1 7854

Tran +239 10702

  VIX +.04 12.10

 

WTI +59 6775

Brent +85 7301

Gas +2 204

NG -2 272

HO +2 209

Eth unch 141

Gold +1 1233

Slvr -4 1557
 

2-yr  unch 2.615%

5-yr +.011 2.773%

10yr +.013 2.875%

30yr +.019 2.989%
 

Bluegrass Stockyards - Lexington, KY (Tues.)
Weighted Average Report for 07/17/2018
    Receipts:  711    Last Week:  848    Year Ago:  958
Compared to last Tuesday steers and heifers sold steady with good demand for packages of weaned calves. Yearling steers sold 4.00 higher with very good demand.  Slaughter cows and slaughter bulls 3.00 lower with moderate demand. 

Kentucky Farm Bureau Minute video  - Click Here
KENTUCKY CASH GRAIN PRICES Click Here
KENTUCKY LIVESTOCK AUCTIONS --  Click Here