CBOT futures had another day of small price changes as traders are focused on Friday’s USDA reports. Large crops in South America and the bearish bias of the spec funds should cap futures until new fundamentals appear. Much of KS/OK/TX has received significant rainfall this week with more to come. Wheat futures are holding up well despite this – a good sign.

Cattle futures closed higher on short-covering.  Support comes from the April LC’s sharp discount to the cash market which is not well established yet this week.  Early trades range from $126-131, down from last week’s 130-134 range. Choice beef closed down 2.65 at 216.92.

Lean Hog futures closed slightly higher nearby and lower in the deferred contracts. Cash hogs and pork values were weaker today.  FOB Plant ended down 1.39 at 76.22.   Hogs and Pigs comes out tomorrow.

Corn May +1 358; Jly unch 366; Dec unch 382 (380-84)

Bean May -3 969; Jly -3 979; Nov -4 968 (967-76)

  Meal unch 316

  Oil -26 3221

Wheat May +1 425; Jly +1 438 (436-41)

  July KC unch 436; MGE +7 549

Oats -4 231

Rice +11 986

 

LC Apr +57 12135; Aug +42 10755; Oct +50 10722

FC Mar +95 13330; May +162 13322; Aug +130 13485

LH Apr +20 6530; Jun +30 7275; Aug -30 7300

Milk Apr +3 1519; May +4 1563

US$ +.2%

Dow -42 20659

SP +3 2361

NAS +22 5898

Tran -21 9075

  VIX -.11 11.42

 

WTI +114 4960

Brent +103 5236

Gas +4 167

NG +8 314

HO +3 154

Eth +1 157

Gold -2 1254

Slvr unch 1825

 

2-yr -.024 1.274%

5-yr -.040 1.928%

10yr -.029 2.380%

30yr -.026 2.987%

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