Market Closes - June 9, 2021
Posted on Jun 9, 2021Corn Jly +11 691 (669-95); Sep +4 632; Dec unch 610 (593-615)
Bean Jly -17 1562 (1550-87); Aug -16 1523; Nov -9 1448 (1428-63)
Meal Jly -3 386 (384-91); Dec -1 394
Oil Jly -49 7159; Dec -59 6602
Wheat Jly -3 682 (673-86); Dec -2 697; Jly22 -4 700
KC jly +3 636; MGE -7 764
Oats -12 396
Rice -5 1308
LC Jun +67 11740; Oct +5 12397; Dec -30 12917
FC Aug -97 14827; Oct -132 15292; Jan -115 15470
LH Jun +125 12195; Aug +7 11875; Oct +50 9715
Milk Jun +16 1718; Jly +10 1756
CBOT futures closed widely mixed with July corn up strongly while the soy complex lost around one percent in value. Volatility was present with trading ranges pretty wide. Of note, December corn kept its upside chart gap open by a mere 0.25 cent; the low was set in the opening few minutes of trading after 8:30 am. At this point, traders are preparing for tomorrow’s midday USDA updates to wheat production and the WASDE. Unless USDA surprises the market with an estimate, traders’ focus will return to the weather forecasts. Supposedly, the midday model updates were a little drier for the NW Corn Belt. However, areas of the spring wheat belt are getting some relief this week – but this may not last.
Cattle futures finished the day mixed with nearby strength in LC but general weakness in feeder cattle due to July Corn’s rally. June LC closed up 67 cents, narrowing slightly its discount to the cash fed market which had light trade at steady prices. Choice beef rose .04 to 338.65 and Select gained 1.69 to 307.87, making the CH/SEL spread 30.78.
Lean hog futures closed higher with the spot June LH up 1.25 to a new contract high. LH was supported by continued strong fundamentals. FOB Plant Pork lost .56 to 134.38. Rib value fell 22.45 to 260.93 and loins dropped 2.95 to 123.00. Pork movement was weak.
US$ steady 90.14
Dow -153 34447
SP -8 4220
NAS -13 13912
Tran -192 15289
VIX +.82 17.89
WTI -31 6956
Brent -19 7203
Gas -2 220
NG +2 315
HO -1 212
Eth unch 246
Gold -3 1891
Slvr +17 2790
2-yr +.002 0.155%
5-yr -.019 0.747%
10yr -.039 1.489%
30yr -.041 2.168%
“Across Kentucky” podcast - Click Here
KENTUCKY CASH GRAIN PRICES – Click Here
KENTUCKY LIVESTOCK AUCTIONS -- Click Here
Comments