Market Closes - July 18, 2019
Posted on Jul 18, 2019Corn 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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