Market Closes - June 13, 2019

Posted on Jun 13, 2019

Corn Jly +12 442 (429-43); Dec +7 456 (448-57)

Bean Jly +10 888 (878-89); Nov +10 915 (905-16)

  Meal +2 322

  Oil +46 2802

Wheat Jly +9 535 (525-36); Dec +7 550; Jly20 +5 563

  KC +5 468; MGE +1 566

Oats +4 304

Rice -9 1165

 

LC Jun -60 10905; Oct -22 110615; Dec -35 11075

FC Aug -157 13622; Oct -167 13647; Jan -190 13475

LH Jun +20 7922; Aug +30 8282; Oct +110 7722

Milk Jun -1 1631; Jly +16 1688

CBOT futures closed higher with corn taking the lead back from soybeans. With the rest of June looking wetter and cooler than normal, traders are more nervous about production potential this year. In corn, the July/Dec price spread narrowed 5 cents, a sign of end users wanting old-crop supplies. Cash corn basis improved as well in areas. Corn closed above the key price resistance points discussed yesterday.

Cattle futures lost ground again today, especially the feeder futures which were also weighed down by the big increase in corn futures. Slaughter numbers are up and export sales are disappointing. Choice beef slipped a nickel to 222.10 and Select dropped a sharp 2.02 to 204.71.

Lean Hog futures closed higher except for the July LH which lost a dollar/cwt, narrowing its premium to the nearby June LH. The disappointing pork export sales report and much uncertainty for the US/China trade deal are negative factors. FOB Plant Pork rose .50 to 83.01 with ribs up nearly 4%.

US$ +.1%

Dow +102 26107

SP +12 2892

NAS +44 7837

Tran +100 10347

  VIX -.09 15.82

 

WTI +109 5224 (high 5345)

Brent +137 6134

Gas +4 172

NG -6 233

HO +3 181

Eth +4 155

Gold +9 1346

Slvr +14 1489

 

2-yr -.055 1.834%

5-yr -.047 1.834%

10yr -.034 2.093%

30yr -.024 2.600%

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