CBOT futures closed little changed and mixed with soybeans and soyoil squeezing out small gains. MGE and KC Wheat dropped the most on ideas of improved rainfall in the Plains. Corn was pressured by Monday’s bearish chart/price action encouraging follow-through selling by the speculative funds – who are already short. Corn pretty much has erased all of last week’s gains. Soybeans have been moving generally sideways the past week with the May Soybean contract wrapping around the key $10.00 level. Traders are anxious to get the March 31 Prospective Plantings report behind them.

This afternoon’s 6-10 day and 8-14 day NWS Outlooks suggest above-normal temperatures east of the Rockies and above-normal precipitation for a large area (Colorado to Ohio to New Orleans, LA).

http://www.cpc.ncep.noaa.gov/products/predictions/610day/

Cattle futures closed higher, led by the Live Cattle market. Support came from stronger boxed beef values, technical buying on prices touching new highs, and April LC discount to the cash market. Beef packers have good margins. Choice carcasses up 1.17 at 224.93; Select up 1.44 at 215.41.

Lean Hog futures closed lower for the fifth straight day. Weakness came from weaker pork values and technical selling.  FOB Plant Pork dropped .50 to 80.96.

US equity markets were hit hard today, posting the first 1% drop in five months. Investors moved money from stocks to bonds, resulting in lower Treasury yields. The 10-year yield peaked mid-month near 2.62%. Today’s turmoil also resulted in a weaker US Dollar and crude oil futures.

Corn May -2 361; Jly -2 369; Dec -2 384 (383-87)

Bean May +2 1001; Jly +2 1012; Nov +5 998 (990-1003)

  Meal -1 326

  Oil +40 3314

Wheat May -4 426; Jly -3 442 (438-45)

   July  KC -7 450; MGE -9 544

Oats +3 254

Rice -8 977

 

LC Apr +100 11990; Aug +92 10657; Oct +90 10672

FC Mar +52 13200; May +22 13150; Aug +70 13247

LH Apr -65 6800; Jun -105 7632; Aug -117 7592

Milk Apr +30 1540; May +50 1570

US$ -.6%

Dow -238 20668

SP -29 2344

NAS -108 5794

Tran -170 8931

  VIX +1.23 12.57

 

WTI -67 4824

Brent -81 5081

Gas -1 161

NG +5 309

HO -1 150

Eth -1 152

Gold +12 1246

Slvr +14 1758

 

2-yr -.036 1.260%

5-yr -.051 1.942%

10yr -.054 2.418%

30yr -.054 3.034%

 

Lexington Auction

Weighted Average Report for 03/20/2017

Receipts:  952    Last Week:  714    Year Ago:  n/a

**Lexington Monday sale held at Mt. Sterling yards while new yards is under construction**

   Compared to last Monday steer calves sold 2.00 to 4.00 higher with very good demand for weaned or thin-fleshed middleweights.  Heifer calves sold 3.00 to 10.00 higher with 300-500 lbs fully 5.00 to 10.00 higher with very good demand.  Slaughter cows and slaughter bulls sold steady with good demand.

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES – Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here