Corn Jly +11 770 (755-80); Dec -5 654 (652-62)

Bean Jly +10 1674 (1653-84); Nov +16 1478 (1450-880)

Meal Jly +8 463 (454-65); Dec +7 407

  Oil Jly +51 7260; Dec +22 6698

Wheat Jly -6 915 (914-40); Dec -6 944

  KC Jly +1 985; MGE -14 1020

Oats Jly +34 664; Sep +6 515

Rice +24 1645

 

LC Jun +50 13680; Oct -50 13890; Dec -62 14462

FC Aug -110 17072; Oct -110 17640; Jan -55 17897

LH Jly -52 10940; Oct +52 9072; Dec +60 8395

Milk Jly +14 2276; Aug +12 2328; Sep +4 2357

CBOT futures closed mixed with the soy complex leading the way higher. Soybeans, meal and soybean oil have closed higher four straight days. In corn, the July contract has separated from the new-crop market. Since Friday, July corn is up 20 cents and December corn is down 20 cents. The spot cash corn market is tight in some areas. Grain buyers have moved their cash bids to September or December futures to avoid July’s volatility arising from any games being played in the delivery market. USDA will release its quarterly stocks estimates and the planted acreage report tomorrow at Noon EDT. Traders expect USDA to raise its corn acreage around 370,000 acres to 89.86 million acres. Traders expect corn stocks of 4.34 billion bushels; this would be around 230 million more than the year-ago estimate. Soybean stocks are expected to total 965 million bushels, or 196 million bushels more than a year ago.

Except for the expiring June LC contract, cattle futures closed lower. There’s very little market news to drive the market, but fed cattle did sell in the southern Plains at steady to $1.00 lower prices, or $138/cwt. Supplies are tighter in the north and feedlots are holding out for higher prices. Choice beef slid 2.26 to 264.88 and Select fell 2.50 to 240.81. The Choice/Select spread remains wide at 24.07. Beef movement was a modest 118 loads.

Lean hog futures settled mixed with minimal price change ahead of today’s Hogs and Pigs Report. Cash hog price and pork cutouts were firmer today.  FOB Plant Pork ended up 3.09 at 108.56, down from the morning quote of 110.38. Belly value jumped 17 to 148; butt value rose 6 to 156; and rib value fell 9 to 175. Pork movement was weak at 247 loads.

This afternoon’s Hogs & Pigs Report came in about as expected by traders. The number Kept for Breeding is 99.2% of the year-ago level. Hogs Kept for Marketing is 99.1% of the year-ago level.

 

US$ +.6%  105.10

Dow +82 31029

SP -3 2819

NAS -4 11178

Tran -58 13222

  VIX -.26  28.10

 

WTI -213 10963

Brent -155 11225

Gas -18 366

NG -15 642

HO -16 396

Gold -2 1819

Slvr -15 2072

 

2-yr -.081 3.043%

5-yr -.125 3.139%

10yr -.120 3.087%

30yr -.097 3.215%

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