Corn Dec +4 378 (373-78); Jly +4 399

Bean Jan unch 917 (915-20); Jly unch 954

  Meal +2 302

  Oil -39 3103

Wheat Dec +11 517; Jly +10 530 (519-30)

  KC +16 439; MGE +6 522

Oats -4 308

Rice -5 1196

 

LC Dec -12 11975; Feb -10 12557; Apr +10 12705

FC Nov +22 14780; Jan unch 14712; Apr +5 14805

LH Dec +142 6472; Feb +182 7555; Apr +137 8202

Milk Nov -5 2011; Dec -40 1879

 

CBOT futures closed mixed with KC Wheat rising a sharp four percent and Chicago wheat up two percent. Wheat rallied on the severe cold and technical buying. December KC Wht surpassed October highs, hitting levels not seen since August 5. Corn rallied on spillover support from the wheat and slow farmer selling. Soybean futures traded very narrow ranges following yesterday’s large drop. Meal gained on soybean oil as traders unwound spread positions.

The U.S. corn harvest is only 66 pct complete, up 14% from last week, but 19 pct below the 5-year average. North Dakota is only 15% complete.

U.S. soybean harvest is 85 pct complete, compared to 92 pct for the 5-year average. North Dakota is 74% and Missouri is 72%.

 

Cattle futures closed little changed and remain near their 6-month highs. Cattle futures remain supported by firm boxed beef values and ideas the cash cattle market will rise to the December LC price level. Choice gained 1.91 to 240.50 and Select rose 2.54 to 216.23.

Lean Hog futures closed sharply higher as pork values posted large gains again today. The December LH gapped higher off chart support. It appears traders are optimistic that China is buying US pork and a trade deal will be done. FOB Plant Pork gained 2.19 to 88.53. Hams rose 5 pct and bellies rose 3 pct.

 

US$ +.1%  98.35

Dow unch 27691

SP +5 3092

NAS +22 8486

Tran -70 10959

  VIX -.01 12.68

 

WTI -6 5680

Brent -12 6206

Gas unch 161

NG -2 262

HO -2 190

Eth -2 143

Gold unch 1457

Slvr -6 1674

 

2-yr -.002 1.664%

5-yr +.007 1.741%

10yr +.003 1.936%

30yr -.005 2.412%

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