Market Closes - March 5, 2019
Posted on Mar 5, 2019UK: 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%
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