Corn Dec -9 564 (563-73); Mar -9 572; Jly -8 577

Bean Jan -12 1244; Mar -12 1255; Jly -10 1271

  Meal Dec +4 341 (336-41)

  Oil -96 6103

Wheat Dec -10 781 (777-797); Jly -6 786

  KC Dec -7 791; MGE -31 1044

Oats -14 746

Rice unch 1327

 

LC Dec +170 13165; Feb +142 13665; Apr +125 13942

FC Nov +160 15917; Jan +220 15922; Apr +180 16330

LH Dec +170 7595; Feb +140 7855; Apr +135 8267

Milk Nov -9 1822; Dec -25 1800

Except for soybean meal, CBOT futures closed much lower and near the day’s lows. Corn and wheat extended their corrective losses from Tuesday, aided by the sharp drop in energy futures. Even as meal rallied, beans were weighed down by soybean oil’s 1.5% drop in sympathy with energy. MGEX spring wheat futures fell sharply today after managing a steady close yesterday as KC/Chicago wheat futures slid. The weekly export sales report comes out tomorrow morning and the next USDA WASDE is on November 9.

Cattle futures closed strongly higher on strong cash markets for feds and beef. Limited cash trade was reported at $128/cwt in the southern Plains and $128-130/cwt in the north; this is up $2-3/cwt from last week. Analysts are bullish on late-week cash pricing. Choice beef gained 1.11 to 288.49 and Select rose 1.59 to 267.72. Beef movement improved to 140 loads today, the best since October 27. Nearby LC futures haven’t been this high since September 2-3.

Lean hog futures closed strongly higher and near the day’s highs, rebounding from Tuesday’s losses. LH was supported by the LC rally and by a huge jump in the pork cutout. FOB Plant Pork soared by 6.23 to 100.44 and was up 8.55 in the morning quote. The cutout benefitted from ham value rising 23.61 to 89.80 – this has been a volatile market. Pork movement was again strong at 313 loads.

US$ -.3% 93.84

Dow +105 36158

SP +30 4661

NAS +162 15812

Tran -178 16861

  VIX -.93 15.10

 

WTI -356 7888

Brent -340 8132

Gas -12 233

NG +31 585

HO -9 242

Eth unch 221

Gold -19 1770

Slvr +4 2355

 

2-yr +.016 0.472%

5-yr +.041 1.190%

10yr +.058 1.605%

30yr +.064 2.022%

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