CBOT futures closed mostly lower today, taking a break from the strong rally that’s been going on for weeks. Weakness was mostly blamed on a wetter forecast, but a stronger US Dollar also weighed on commodity futures.  Soybean futures performed better thanks to export sales.

USDA will release its monthly WASDE report tomorrow, so traders will look at those changes in demand and stocks forecasts.

Cattle futures closed little changed in fairly narrow trading ranges, as traders wait for the cash market to develop on Friday. June Live Cattle futures remain at a sharp discount to last week’s cash price.  Futures should find support from a strong boxed beef market. Choice closed up 1.75 at 226.85; Select ended up 2.29 at 202.84. 

Lean hog futures closed very mixed. FOB Plant Pork dropped 1.24 to 87.50 on weaker loins, butts, picnics and ribs.

Corn Jly -5 426; Dec -3 433

Bean Jly -2 1176; Nov +2 1153

  Meal -4 413

  Oil +14 3303

Wheat Jly -9 510; Dec -9 539

  KC -8 484; MGE -1 554

Oats unch 205

Rice -21 1132

 

LC Jun +17 12320; Oct +22 11810; Dec -5 11822

FC Aug -7 14730; Oct +10 14362; Jan -10 13547

LH Jun +62 8267; Aug -85 8647; Oct +10 7227

Milk Jun +2 1328; Jly +75 1504

US$ +.5%  First day up after 4 days of a weaker US$

Dow -20 17985

SP -4 2115

NAS -16 4959

Tran -18 7882

 VIX +.56 14.64

 

WTI -77 50.46

Brent -67 5184

Gas unch 162

NG +12 259

HO -2 155

Eth unch 168

Gold +11 1270

Slvr +29 1728
 

2-yr -.012 0.771%

5-yr -.018 1.217%

10yr -.025 1.682%

30yr -.037 2.478%
 

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