Market Closes - March 8, 2022 - Kentucky Farm Bureau

Market Closes - March 8, 2022

Posted on Mar 8, 2022

Corn May +2 753 (729-61); Jly -1 726; Dec +1 644 (633-55)

Bean May +30 1690 (1650-1706); Jly +22 1656; Nov +20 1473 (1447-79)

  Meal May +15 473 (455-76); Dec +3 417 (410-20)

  Oil  May +153 7575; Dec +78 6453

Wheat May -7 1286 (1164-1363); Jly -57 1195 (1122-1278)

  KC May -52 1199; MGE -53 1144

Oats +1 643

Rice -24 1600

 

LC Apr +115 13905; Jun +152 13545; Aug +117 13647

FC Mar -57 15402; May +140 16630; Aug +130 17940

LH Apr +265 10292; Jun +367 11467; Aug +392 11255

Milk Mar +12 2273; Apr +57 2454; May +47 2457

CBOT futures closed widely mixed with soybeans higher and most wheat contracts much lower. Wheat trade was highly volatile with highs made during the opening Monday evening and lows made late morning, followed by a late bounce. Many wheat contracts made new contract highs today. Nice gains in old-crop soybeans and meal supported other markets. Soybeans were supported by rising energy futures, more Chinese purchases and expectations tomorrow’s USDA WASDE report will decrease corn and soybean production estimates for South America. It’s a wildcard as to what USDA will do with export estimates for Russia and Ukraine.

Cattle futures closed higher except for nearby March Feeder Cattle. Today’s rally may have been follow-through profit-taking by the shorts as cash fundamentals were not supportive. Light negotiated cash trade was reported around $138/cwt, down $2.00 from last week. Choice beef dropped 2.27 to 252.44 and Select fell 5.28 to 244.94. Beef movement was very strong at 194 loads.

Lean hog futures closed strongly higher on support from higher cash hog prices and pork cutout values. FOB Plant Pork ended down 1.25 at 105.40 compared to 111.24 in the morning report. Ham value went from up 6 to down 7, ending at 80. Pork movement continued strong at 298 loads.

US$ -.2% 99.08

Dow -185 32633

SP -30 4170

NAS -35 12796

Tran -56 14737

  VIX -1.0 35.45

 

WTI +521 12461

Brent +571 12892

Gas +13 370

NG -26 458

HO +58 450

Gold +64 2060

Slvr +118 2690

 

2-yr +.053 1.601%

5-yr +.085 1.776%

10yr +.091 1.840%

30yr +.068 2.219%

March 15 Marks the Deadline for Several USDA Programs, Crop Insurance

https://www.farmers.gov/working-with-us/program-deadlines?utm_campaign=march152022deadlines&utm_medium=email&utm_source=govdelivery

 

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