Market Closes - March 15, 2022 - Kentucky Farm Bureau

Market Closes - March 15, 2022

Posted on Mar 15, 2022

Corn May +10 758 (736-59); Jly +5 723; Dec -1 651 (637-53)

Bean May -12 1659 (1638-74); Jly -11 1636; Nov -14 1467 (1454-82)

  Meal May unch 484 (476-88); Dec -4 427 (424-31)

  Oil  May -27 7368; Dec -57 6353

Wheat May +58 1154 (1088-1161); Jly +57 1127 (1060-1133)

  KC May +57 1157; MGE +40 1110

Oats unch 661

Rice +8 1618

 

LC Apr +52 14085; Jun +110 13680; Aug +62 13730

FC Mar +40 15635; May -15 16730; Aug -50 17992

LH Apr +20 10240; Jun +72 12007; Aug +72 11762

Milk Mar -7 2233; Apr -55 2335; May -38 2374

 

CBOT futures closed mixed but far above the day’s lows; corn and wheat ended near the day’s highs. Wheat closed sharply higher on concerns about Russian/Ukraine and the High Plains drought. KS/CO/TX saw a decline in wheat’s condition ratings yesterday; the prospect of meaningful rain is minimal due to the ongoing La Nina. This also portends plentiful moisture in Kentucky. Corn and soybean futures traded lower overnight but rallied in sympathy with wheat, just not to the same degree as wheat.

Live cattle closed higher and feeder futures ended narrowly mixed. LC was supported by higher boxed beef values and follow-through buying from Monday. April LC closed at its highest level since February 28. Feeder futures closed both sides of unchanged, taking a break after Monday’s sharp gains. Choice beef rose 2.39 to 257.90 and Select fell 1.10 to 248.84. Beef movement improved to 135 loads. Today was another one without negotiated cash trade.

Lean hog futures finished slightly higher April-August and marginally lower in October-February contracts. FOB Plant Pork ended up 1.29 at 104.48, lower than the morning quote of 108.90. Ham value was up 28 in the morning and ended the day up only 12 at 78. Pork movement was very strong at 375 loads.

US$ -.1% 98.99

Dow +599 33544

SP +89 4262

NAS +367 12949

Tran +388 15519

  VIX -1.71 30.06

 

WTI -783 9518

Brent -848 9842

Gas -22 295    Wonder when the pump price will drop?

AAA.com reports Kentucky’s average gasoline price for Regular Gas is $4.02 compared to $3.22 a month ago and $2.725 a year ago. KY Diesel is $4.935 compared to $3.755 a month ago and $2.865 a year ago.   View the data at https://gasprices.aaa.com/?state=KY

 

NG -4 462

HO -28 299

Gold -31 1930

Slvr -16 2300
 

2-yr +.002 1.851%

5-yr +.015 2.107%

10yr +.009 2.149%

30yr +.008 2.484%

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