Market Closes - November 18, 2020

Posted on Nov 18, 2020

Corn Dec +5 426 (418-28); Mar +4 430; Dec21 +1 409

Bean Jan +6 1176 (1168-90); Mar +6 1175; Nov +4 1051

  Meal Dec -1 395 (394-99)

  Oil +96 3846

Wheat Dec +2 598; Jly +1 605 (600-609)

   KC +5 558; MGE +1 550

Oats +1 297

Rice +12 1245

 

LC Dec -67 11065; Feb -42 11315; Apr -62 11662

FC Nov -35 13702; Jan -242 13730; Mar -227 13690

LH Dec +27 6580; Feb +27 6590; Apr -45 6877

Milk Nov +14 2317; Dec -7 1609; Jan -2 1665

CBOT futures closed mostly higher with little new information driving prices. USDA only announced a corn export sale this morning. Traders anxiously await Thursday morning’s USDA weekly Export Sales report for signs of soybean sales. Although soybean futures made new contract highs today, the highs were set soon after the 830 am opening with settlements well off the highs. The gains were limited by weaker soybean meal futures. Soybean oil shot sharply higher on support from strong palm oil prices.

Cattle futures closed lower today with feeder futures posting bigger losses. Live cattle slid in value despite stronger boxed beef values and steady cash fed prices. Rising COVID cases and a weaker stock market may have kept buyers at bay. Choice beef gained 2.12 to 235.84 and Select fell .34 to 213.62. Choice-Select Spread = 22.22. Negotiated cash trading was moderate at mostly steady prices around $110/cwt live. Dressed prices were reported at $172/cwt.  

Lean hog futures closed higher in December and February, but lower in the deferred contracts with price changes fairly small. Rising hog weights and week/week harvest numbers weighed on the market. FOB Plant Pork ended down .92 at 77.68 due to a 9% drop in ham value and a 2% loss in loin value. This was offset by a 9% gain in belly value and a 4% gain in picnics.

 

US$ steady 92.40

Dow -345 29438

SP -42 3568

NAS -98 11802

Tran -87 12348

  VIX +1.13 23.84

 

WTI +36 4201

Brent +59 4434

Gas +1 116

NG +2 271

HO +2 126

Eth unch 142

Gold -11 1874

Slvr -20 2445

 

2-yr  unch 0.175%

5-yr +.008 0.394%

10yr -.004 0.868%

30yr -.026 1.599%

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