Market Closes - March 17, 2017
Posted on Mar 17, 2017CBOT 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
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
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