Market Closes - March 17, 2017

Posted on Mar 17, 2017

CBOT futures closed little changed on the day and for the week. Futures found support this week from a weaker US Dollar Index and good corn/bean exports. Markets were pressured by the huge South American crop being harvested and the sizable long soybean position held by the speculative funds. Traders are positioning for the March 31st Prospective Plantings report from USDA to put an “official” estimate to the corn/soybean acreage split. The new-crop bean/corn price ratio favors more soybean acres; this bias is built into the crop insurance protection levels.

Live Cattle only edged higher despite the very strong cash cattle market and rising boxed beef market. Cash cattle traded above $128 midweek and reported bids today at $130 or better. Choice carcasses up 1.07 at 223.43; Select up 0.61 at 214.48.  Cash and April futures need to come closer together over the next 4-5 weeks.

Lean Hog futures dropped for the third straight day, pressured by lower cash hog prices. FOB Plant Pork edged up .26 to 81.60.  A 3% gain in loin value offset losses in values of butts, ribs and bellies.
 

Corn May +1 367; Jly +1 375; Dec +2 390 (386-90)

Bean May -1 1000; Jly -1 1010; Nov -2 993 (988-98)

   Meal unch 329

   Oil +4 3230

Wheat May unch 436; Jly unch 451 (448-53)

  July KC +3 465; MGE +1 554

Oats +1 250

Rice +8 991

 

LC Apr +12 11932; Jun +25 10967; Aug +52 10545

FC Mar +77 13132; May +95 13037; Aug +87 13105

LH Apr -85 6905; Jun -135 7732; Aug -87 7762

Milk Mar +5 1573; Apr +32 1528

US$ +.1%

Dow -20 20915

SP -3 2378

NAS unch 5901

Tran -36 9145

  VIX +.07 11.28

 

WTI +3 4872

Brent +6 5180

Gas unch 159

NG +5 296

HO unch 151

Eth -1 154

Gold +3 1230

Slvr +8 1738

 

2-yr -.003 1.321%

5-yr -.010 2.020%

10yr -.024 2.500%

30yr -.025 3.110%

KFB Legislative Report – March 17, 2017

https://www.kyfb.com/federation/public-affairs/legislative-reports/2017-legislative-reports/march-17-2017-legislative-report-no-8-kentucky-general-assembly/


UK to host emergency wheat freeze damage training

March 16, 2017 – Recent freezing temperatures may have caused damage to Kentucky’s wheat crop. The UK CAFE will host an emergency wheat freeze damage training to help producers assess potential damage and help them make appropriate management decisions.  The training begins with registration at 8 a.m. CDT Tuesday, March 21 at the UK Research and Education Center near Princeton. The program starts at 8:30 a.m.   This program will also be streamed online.  

http://news.ca.uky.edu/article/uk-host-emergency-wheat-freeze-damage-training


Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here