Market Closes - July 18, 2019

Posted on Jul 18, 2019

Corn Sep -11 424; Dec -12 430 (428-41)

Bean Aug -1 881; Nov -1 899 (893-903)

  Meal unch 307

  Oil -4 2764

Wheat Sep -12 493; Jly -11 524 (523-33)

  KC -9 433; MGE -2 525

Oats -3 275

Rice +7 1189

 

LC Aug -72 10740; Oct -50 10825; Feb -67 11637

FC Aug -115 13942; Oct -135 13972; Jan -112 13845

LH Aug +77 8277; Oct -92 7690; Dec -45 7527

Milk Jly +11 1742; Aug +7 1774

 

CBOT futures closed near steady to strongly lower. Corn and wheat dropped 2-3% and finished near the day’s lows. Soybeans closed mid-range. Today’s selling pressure was from a combination of weak export sales, non-threatening cooler weather through July, prices falling below technical support and no sign of a trade deal with China. Until USDA provides bullish acreage and/or yield data, traders seem to favor the sell side. Sliding ethanol futures is a negative factor.

Lean Hog futures closed mostly lower following yesterday’s big gains. The August LH contract gained 77 cents on top of its near-limit gain of 2.98 yesterday. Today’s export sales report showed a 43% gain from the 4-week average; however, China did not buy anything. Weekly shipments were strong with China at the top of the list. FOB Plant Pork gained .12 to 76.60.

Cattle futures closed lower with feeders down the most. A lack of strength in the cash fed market weighed on the market. Choice closed up .77 at 213.34 and Select gained .27 to 188.61.

 

US$ -.5%

Dow +3 27223

SP +11 2995

NAS +22 8207

Tran +131 10538

  VIX -.44 13.53

 

WTI -112 5566

Brent -120 6246

Gas -3 185

NG -2 228

HO -1 188

Eth -3 144

Gold +25 1448

Slvr +40 1637

 

2-yr -.08 1.756%

5-yr -.061 1.768%

10yr -.033 2.028%

30yr -.007 2.566%

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