Market Closes - November 11, 2021 - Kentucky Farm Bureau

Market Closes - November 11, 2021

Posted on Nov 11, 2021

Corn Dec unch 569 (566-79); Mar -1 578; Jly -1 583

Bean Jan +5 1221 (1212-28); Mar +4 1233; Jly +2 1250

  Meal Dec +2 344 (342-46)

  Oil unch 5914

Wheat Dec +9 812 (798-825); Jly +9 814

  KC Dec +10 828; MGE +7 1053

Oats -15 725

Rice +17 1406

 

LC Dec -12 13187; Feb -42 13640; Apr -7 14025

FC Nov +67 15732; Jan +102 15907; Apr +77 16295

LH Dec -32 7537; Feb -25 7907; Apr -32 8382

Milk Dec +5 1808; Jan +13 1848

CBOT futures closed steady to higher with wheat futures leading the way up. KC and Chicago wheat charged higher, raising the contract highs; MGEX wheat is working on getting back to the November 2nd contract highs. Wheat’s strength is still based on the world’s tight supply situation and indications that Russia will restrict exports. Corn and soybeans were supported by the wheat market. The day’s highs were set around 9:40 a.m. CST. The nearby Chicago wheat contract has not been this high since December 2012 and Paris wheat futures hit 14-year highs. USDA’s weekly export sales report will be released Friday morning due to Veteran’s Day.

Live cattle futures closed slightly lower while feeders made gains across the board. Live Cattle have been mostly moving sideways lately waiting for the cash market to lead the way higher. The morning beef cutouts were weaker than they showed in the afternoon. Choice beef slipped .38 to 285.14 and Select rose .67 to 267.29. After heavy beef movement on Tues/Wed, today’s load count was a light 133. Cash fed trade

Lean hog futures closed lower after trading higher during the middle of the session. LH was supported by a strong pork market. FOB Plant Pork jumped 5.23 to 95.80 as loins rose 7.58 to 84.87 and hams soared 23.55 to 95.17. Belly value fell 12.37 to 143.82 and picnics dropped 6.83 to 67.75.

US$ +.3% 95.15

Dow -159 35921

SP +3 4649

NAS +82 15704

Tran +120 16708

  VIX -1.07 17.66
 

WTI -6 8000

Brent -11 8253

Gas +1 231

NG +24 512

HO -2 244

Gold +16 1864

Slvr +58 2535


Treasury markets were closed for Veterans Day.

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