Market Closes - June 29, 2021

Posted on Jun 29, 2021

Corn Jly +19 694 (668-700); Sep +1 559; Dec +1 548 (541-59)

Bean Jly +3 1360 (1348-72); Aug +3 1340; Nov unch 1312 (1298-1327)

  Meal Jly -3 348 (344-54); Dec -5 354

  Oil Jly +184 6415; Dec +126 6129

Wheat Jly -6 640 (638-58); Dec -5 653; Jly22 -1 661

  KC Jly +1 619; MGE -22 820

Oats -8 377

Rice +9 1325

 

LC Jun +45 12255; Oct +22 12775; Dec -15 13177

FC Aug +105 15740; Oct +52 16157; Jan -15 16237

LH Jly +202 10697; Oct +35 8775; Dec +32 8032

Milk Jly +20 1698; Aug +37 1719

CBOT futures closed widely mixed with corn and soy complex futures ending at mid-range. Wheat futures settled mostly lower and closer to the day’s lows. Traders were focused on preparing for tomorrow’s USDA reports. When that’s past us, attention will be on next weather forecast. MGE spring wheat futures made a new contract high and reversed sharply lower to post a bearish key reversal on the charts.

Tomorrow at NOON EDT, USDA will release its Acreage (CLICK HERE) and Grain Stocks (CLICK HERE) reports. Some average trade expectations include:

Planted Corn Acres = 93.8 million vs Intentions @ 91.1 million
June 1 Corn Stocks = 4.14 billion bushels

Planted Soybean Acres = 89.0 million vs Intentions @ 87.6 million
June 1 Soybean Stocks = 787 million bushels

June 1 Wheat Stocks = 859 million bushels

 

Cattle futures closed mostly narrowly mixed with the August FC contract settling up 1.05. June Live Cattle ends trading tomorrow and are around $3.00/cwt discount to recent live prices. Boxed beef values keep sliding, but packers still have huge margins. Choice beef fell 5.09 to 292.34 and Select slid 3.56 to 270.40 with heavy movement of 157 loads. Negotiated cash trade was inactive.

Lean hog futures closed higher with nearby July LH popping $2.02/cwt, supported by further short-covering after Monday’s $3.00 limit up move. A strong morning pork market added to the momentum. FOB Plant Pork was down .91 at 114.22 after being up 3.41 in the morning report. Ham and belly values dropped around $5/cwt.

US$ +.2% 92.08

Dow +9 34292

SP +1 4292

NAS +28 14528

Tran +20 14855

  VIX +.35 16.10

 

WTI +52 7272

Brent +54 7468

Gas +2 224

NG +6 366

HO +1 213

Eth unch 240

Gold -19 1762

Slvr -32 2389

 

2-yr -.004 0.252%

5-yr -.001 0.893%

10yr -.002 1.476%

30yr -.006 2.092%

“Across Kentucky” podcast  - Click Here

KENTUCKY CASH GRAIN PRICES Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here