Market Closes - June 3, 2015

Posted on Jun 3, 2015
CBOT futures closed mixed. Prices rallied through mid-morning on a weaker US dollar, but sold off once a large private consultant released its crop estimates showing larger South American soybean crops and the U.S. wheat crop. Reportedly, the funds were active in moving price up, then down.

Cattle futures closed lower and near the day’s lows pressured by Tuesday’s sharp drop in boxed beef values. Beef values added significantly to those losses today. Choice down 2.31 at 249.28; Select carcasses down 1.55 at 239.80.

Lean Hog futures also lost significant value even though pork values were higher at midday; however, the late day report showed FOB Plant Pork dropped .85 to 86.52/cwt. Hog futures may have been pressured by signs of rising average slaughter weights and from the losses in cattle futures and boxed beef.

Corn Jly unch 359; Dec +1 377 Bean Jly -5 935; Nov -2 915 Meal Jly +1 303; Oct unch 291 Oil +56 3473 Wheat Jly -2 511; Dec -2 528 KC -6 529; MGE -8 563 Oats -1 252 Rice +9 986

LC Jun -80 15250; Oct -120 15242; Feb -120 15372 FC Aug -137 22195; Oct -150 21925; Jan -157 21120 LH Jun -92 8355; Aug -125 8150; Dec -115 6810 Milk Jun -17 1673; Jly -52 1694

 

US$ -.%6 Dow +64 18076 SP +4 2114 NAS +23 5099 Tran +103 8510 VIX -.58 13.66

WTI -165 5961 Brent -174 6375 Gas -2 204 NG -6 264 HO -5 189 Eth +4 154 Gold -9 1185 Slvr -32 1647

2-yr +.016 0.672% 5-yr +.079 1.685% 10yr +.095 2.361% 30yr +.080 3.100%

Tagged Post Topics Include: Economics, Market updates