Market Closes - March 14, 2019

Posted on Mar 14, 2019

Corn May +4 370; Dec +2 394 (391-96)

Bean May -2 898; Nov -3 933 (930-40)

  Meal +1 306

  Oil -36 2957

Wheat May +5 453; Jly +4 460 (454-67)

  KC unch 436; MGE +2 552

Oats +4 273

Rice -7 1075

 

LC Apr +72 12740; Jun +102 12035; Aug +82 11645

FC Mar -45 14110; May +27 14635; Aug +57 15202

LH Apr +232 6580; Jun +270 8352; Aug +202 8675

Milk Apr +12 1507; May +13 1532

CBOT futures closed mixed with gains probably attributable to short-covering by the very short spec funds. Corn, beans and wheat rallied during the first 2 hours of trading this morning and then worked lower into the close. Chicago Wheat posted the best gains, but also dropped the most off the day’s highs. China trade news was on the negative side with President Trump indicating no rush to make a deal. As days pass, the wet weather and potential planting delays will get more talk/concern.

Cattle futures closed higher with better gains in the LC market. Futures were supported by the sharp gains in LH futures and by this week’s blizzard adding to unfavorable feedlot conditions. The April LC is in line with today’s light cash trade at $127/cwt. Choice fell .54 to 227.70 and Select fell .52 to 218.76. 

Lean Hog futures closed sharply higher, supported by stronger cash hog and pork values, as well as this morning’s very large pork export sales estimate. The key will be if China keeps up its latest purchase pace.  FOB Plant Pork gained .95 to 68.80 with loins up 3+ percent, hams up 2+ percent; ribs fell 2 percent.

US$ +.3% 96.76

Dow +7 25710

SP -2 2808

NAS -12 7631

Tran -22 10346

  VIX +.09 13.50

 

WTI +32 5891

Brent -32 6723

Gas -1 185

NG +3 285

HO -1 198

Eth +2 135

Gold -14 1295

Slvr -28 1517

 

2-yr +.012 2.465%

5-yr +.016 2.430%

10yr +.018 2.628%

30yr +.034 3.044%

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