Market Closes - March 5, 2019

Posted on Mar 5, 2019

UK: Revenue protection insurance favors corn for 2019

   Read UK AgNews article HERE.

 

Corn May +1 376; Dec +1 397 (395-98)

Bean may -2 914; Nov -2 948 (944-53)

  Meal unch 310

  Oil -6 3002

Wheat May +7 463; Jly +7 468 (458-69)

  KC +8 451; MGE +3 555

Oats +1 266

Rice +4 1071

 

LC Apr +47 12882; Jun +5 11985; Aug unch 11575

FC Mar -32 14087; May -80 14632; Aug -105 15132

LH Apr +57 5790; Jun +112 7630; Aug +92 7902

Milk Apr +4 1504; May +2 1517

 

And the beat goes on – corn and beans closed little changed as the China trade situation drags on with rumors of a big deal, but confirmation still days/weeks away. Wheat rallied strongly on short-covering profit-taking even as the fundamentals remains negative. The March WASDE report will be released Friday.

Live Cattle closed mixed and Feeders were lower across the board. Nearby April LC was supported by firm boxed beef values and unfavorable feedlot conditions. Choice beef ended up .49 at 224.04 and Select gained .58 to 217.79. Feeder Cattle futures closed weak near the daily lows.

Lean Hog futures closed higher, posting the highest closes since February 15. Traders support LH on ideas hog numbers will ease and that China will need US pork. FOB Plant Pork dropped .34 to 62.59. 

US$ +.2% 96.83 (the February high = 97.36)

Dow -13 25807

SP -3 2790

NAS -1 7576

Tran -86 10314

  VIX +.11 14.74

 

WTI -29 5668

Brent -3 6564

Gas +1 176

NG +3 289

HO unch 201

Eth unch 135

Gold +1 1289

Slvr +4 1515

 

2-yr +.002 2.547%

5-yr -.002 2.529%

10yr -.002 2.720%

30yr -.006 3.084%

“Across Kentucky” podcast  - Click Here

KENTUCKY CASH GRAIN PRICES Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here