Corn Jly -1 730 (726-39); Dec +3 694 (687-99)

Bean Jly +39 1729 (1681-1741); Nov +26 1542 (1505-46)

  Meal Jly +2 415 (411-18); Dec +1 399

  Oil  Jly +333 8144 (7757-8179); Dec +215 7724

Wheat Jly +17 1058 (1037-75); Dec +17 1081

  KC Jly +15 1143; MGE +2 1199

Oats Sep +5 631

Rice -16 1697

 

LC Jun +82 13362; Aug +122 13412; Oct +172 13962

FC Aug +322 17295; Oct +290 17767; Jan +255 17945

LH Jun +25 11005; Aug +82 10975; Oct +45 9430

Milk Jun -14 2431; Jly -4 2466

CBOT futures closed mostly higher with soybean oil leading the market. Soybean oil soared on renewed concerns about global vegetable oil supplies and continued strength in energy futures. The DOE reported 908 million pounds of soybean oil were used in March to make biofuels; this is the second highest monthly total on record. Soybean futures rose sharply and nearly recovered to Tuesday’s highs. Soybeans were supported by soybean oil and a large daily soybean export sale to Pakistan. KC and Chicago wheat futures posted strong gains on corrective short covering following the past two days of severe price declines. Corn futures closed mostly 2-3 cents higher with ranges inside Wednesday’s wide range. Weekly export sales will be reported Friday morning by USDA due to Monday’s holiday. A weaker US$ was supportive too.

Cattle futures closed higher with feeders settling up strongly given corn’s weak performance. Live cattle rallied on ideas that we’re near a seasonal low with June LC at a discount to this week’s cash trade of $135/cwt or better. Feeder futures are now $9-10/cwt above the May lows.  Choice beef slid .77 to 266.65 and Select gained .72 to 249.63. Beef movement was moderate at 131 loads.

Lean hog futures closed mostly higher by relatively small amounts. LH settled low-range after failing at new highs. Analysts still expect prices to hold up on good fundamentals. FOB Plant Pork closed up 2.00 at 112.02 with ham value up 3.57 to 96.29 and belly value up 4.66 at 177.19. Pork movement was very strong at 332 loads. Weekly export sales will be released Friday morning.

US$ -.8% 101.76

Dow +435 33248

SP +76 4177

NAS +322 12317

Tran +296 14491

  VIX -.97 24.72

 

WTI +226 11752

Brent +193 11822

Gas +16 423

NG -27 842

HO +13 428

Gold +23 1872

Slvr +42 2234

 

2-yr -.032 2.632%

5-yr -.029 2.911%

10yr -.018 2.913%

30yr +.002 3.079%

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