Market Closes - June 1, 2022 - Kentucky Farm Bureau

Market Closes - June 1, 2022

Posted on Jun 1, 2022

Corn Jly -22 731 (720-56); Dec -20 691 (682-716)

Bean Jly +7 1690 (1675-1706); Nov +6 1515 (1503-34)

  Meal Jly-2 413 (410-20); Dec -4 398

  Oil  Jly +19 7811 (7661-7915); Dec +37 7509

Wheat Jly -46 1041 (1027-98); Dec -43 1064 (1049-1116)

  KC Jly -37 1128; MGE -50 1197

Oats Sep -15 626

Rice -41 1713

 

LC Jun +227 13280; Aug +252 13290; Oct +175 13790

FC Aug +460 16972; Oct +407 17477; Jan +402 17690

LH Jun +182 10980; Jly +442 11242; Aug +250 10892

Milk Jun -14 2443; Jly -2 2467

CBOT futures closed mixed with corn and wheat futures dropping sharply for a second straight day. Soybean futures stabilized after Tuesday’s price collapse. Analysts report that the funds are liquidating long positions on concerns that Ukrainian grain exports may make it to market and that U.S. planting progress has sufficiently caught up to “normal”. If Russia decides to block Ukraine exports by sea, prices could rally back.

Cattle futures closed strongly higher with feeder cattle up sharply given the 2-day sell-off in corn futures. LC were lifted by Tuesday’s higher boxed beef market and declining slaughter weights. LC essentially erased Tuesday’s losses while FC soared back near last week’s highs. Today, Choice beef slipped .12 to 267.42 and Select edged .26 higher to 248.91. Beef movement was a strong 146 loads. Light cash trade was reported at $135/cwt in the Southern Plains. Dressed prices averaged around $222/cwt.

Lean hog futures settled strongly higher with the July LH rising sharply to correct Tuesday’s larger loss. LH was supported by stronger cash hog prices and pork cutouts. FOB Plant Pork ended the day up 2.31 at 110.02 with belly value up 14 to 173 and loin value down 2 at 103. Pork movement was good at 293 loads.

 

US$ +.8% 102.54

Dow -177 32813

SP -31 4101

NAS -87 11994

Tran -106 14195

  VIX -.47 25.72

 

WTI +12 11479

Brent +19 11579

Gas +14 406

 

NG +62 877

HO +20 413

Gold +1 1850

Slvr +18 2186

 

2-yr +.108 2.648%

5-yr +.107 2.916%

10yr +.067 2.911%

30yr +.005 3.062%

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