Market Closes - May 31, 2016
Posted on May 31, 2016Most CBOT futures were down sharply, led lower by the Chicago Wheat market. Improving (drier) weather forecasts pressured the markets in addition to the stronger US Dollar and end-of-month profit-taking. Futures were stronger overnight but headed south when trading reopened at 830 am. Wheat futures fell back near last week’s lows. USDA’s weekly report shows the corn crop in similar shape as it was a year ago.
Corn Emergence Progress
. 5/29/16 5-yr average
U.S. 78% 75% (81% last year)
KY 77% 73% (79% last year)
Rated 72% good/excellent vs 74% year ago
Soybean Planting Progress
. 5/29/16 5-yr average
U.S. 73% 66% (68% last year)
KY 31% 40% (46% last year)
Winter Wheat Conditions – 18 States
. Good/Excellent Poor/V.Poor
This Week 63% 8%
Last Week 62% 8%
Last year 44% 20%
Cattle futures closed higher for the fourth straight day. Traders will be looking at the cash market development this week for future direction. Boxed beef was steady to weaker. Choice beef lost .73 to 221.34 and Select lost .20 to 201.37.
Lean Hog futures closed narrowly mixed after being higher most of the day. LH futures closed near the lows of the day. FOB Plant Pork gained .79 to 84.35
Corn Jly -8 405; Dec -5 408 (408-15)
Bean Jly -8 1078; Nov unch 1056 (1051-68)
Meal -6 397
Oil +34 3182
Wheat Jly -17 464 (463-84); Dec -15 493
KC -12 447; MGE -8 520
Oats -4 189
Rice +17 1094
LC Jun +140 12110; Oct +150 11732; Dec +82 11682
FC Aug +40 14710; Oct +27 14350; Jan +50 13492
LH Jun +5 8057; Aug +12 8085; Oct -30 6822
Milk Jun -2 1283; Jly -13 1302
US$ +.1%
Dow -86 17787
SP -2 2097
NAS +14 4948
Tran +26 7798
VIX +1.07 14.19 +8.2%
WTI -50 4883
Brent -7 4969
Gas -3 160
NG -3 196
HO unch 149
Eth -1 165
Gold +2 1215
Slvr -27 1600
2-yr +.004 0.887%
5-yr +.021 1.380%
10yr +.016 1.851%
30yr +.012 2.652%
Kentucky Farm Bureau Minute video - Click Here
KENTUCKY CASH GRAIN PRICES – Click Here
KENTUCKY LIVESTOCK AUCTIONS -- Click Here
Comments