CBOT futures closed mostly higher but corn futures made new life-of-contract low closes. Pressure came from expectations that weather will be more favorable after the extreme heat this week. Soybean futures got more support than corn because of Chinese demand, good export sales, and the critical pod-fill period has more weather uncertainty. Wheat futures were supported by a jump in EU wheat prices on French yield concerns. The speculative funds are huge shorts in US wheat futures and huge longs in soybeans.

Today’s 6-10 day and 8-14 day outlooks push the heat out of the western Corn Belt and increase rain probabilities in the middle of the time frame.

Cattle and hog futures closed sharply lower on weaker product values and traders’ concern for consumer demand, especially during the extreme heat. Many contracts hit new contract lows. Choice beef ended down 0.61 at 200.70; Select down 1.19 at 189.82.  FOB Plant Pork dropped .65 to 88.91.

Corn Sep -3 334; Dec -3 341 (339-48)

Bean Aug +5 1032; Nov +3 1012 (1004-25)

  Meal unch 352

  Oil +35 3106

Wheat Sep +5 418; Dec +5  441 (433-43)

   KC +1 407; MGE +1 486

Oats +2 208

Rice -20 1061

 

LC Aug -190 10752; Dec -252 10727; Feb -265 10742

FC Aug -422 13440; Oct -372 13270; Jan -267 12772

LH Aug -175 7445; Oct -160 6227; Dec -207 5645

Milk Jly -6 1527; Aug -4 1646

 

US$ -.2%

Dow -78 18517

SP -8 2165

NAS -16 5074

Tran -104 7859

  VIX +.97 12.74

 

WTI -121 4454

Brent -111 4606

Gas -1 135

   U.S. gasoline stocks are record-high.

NG +3 269

HO -3 137

Eth -1 145

Gold +12 1331

Slvr +22 1983

 

2-yr -.032 0.682%

5-yr -.046 1.092%

10yr -.024 1.556%

30yr -.007 2.289%

Check out maps and charts showing where drought is impacting corn, soybean and hay crops.  Click Here

Lexington, KY - Blue Grass Stockyards
Cattle Weekly Summary Report for the week ending 07/19/16

Receipts:  972   Last Week: 1476   Year Ago: 1800 

   Compared to last week steer calves under 600 lbs sold 2.00 to 5.00 lower with light demand; over 600 lbs sold steady with moderate demand.  Heifer calves under 500 lbs sold 5.00 lower with light demand over 500 lbs sold steady with moderate demand. Yearlings sold steady with moderate demand.  Slaughter cows sold 1.00 lower with moderate demand. Slaughter bulls sold steady with good demand. High temperatures locally and in western states slowed cattle movement this week.      

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES – Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here