Market Closes - November 4, 2020

Posted on Nov 4, 2020

Corn Dec +4 405; Mar +5 411; Dec21 +3 393

Bean Jan +22 1086; Mar +22 1080; Nov +12 990

  Meal Dec +8 386 (375-87)

  Oil +61 3439

Wheat Dec -2 606; Jly +2 604

  KC +3 560; MGE +5 557

Oats +1 297

Rice +3 1252

 

LC Dec +5 10787; Feb +47 11077; Apr +97 11467

FC Nov +157 113770; Jan +197 13515; Mar +172 13487

LH Dec +95 6635; Feb +147 6700; Apr +122 6940

Milk Nov -9 2377; Dec -4 2018

CBOT futures closed higher led by strong gains in the soy complex. Corn and wheat futures followed soybeans higher throughout the day. Supporting the soy complex were dryness in South America, high palm oil prices, excellent crush margins and fund buying. Soybean futures and soybean meal are testing contract highs in the nearby contracts. Corn futures are 10-15 cents below contract highs. The US Dollar was strong overnight but faded into the daytime as stocks rallied sharply. The Dollar Index sits just above the middle of the 3-month sideways range and has support at the downtrend line.

Cattle futures closed higher and near the day’s highs with feeders leading the way. Cattle were supported by boxed beef and strong financial markets. Choice beef rose .75 to 210.19 and Select gained 1.60 to 197.05. On light trade, prices are steady to firm with $107/cwt live and $161.50/cwt dressed.

Lean hog futures closed higher and near the day’s highs. LH were supported by a higher morning pork cutout and some short-covering as the 2-week trend has been down. Cash hog prices continue to weaken from their premium to the December LH contract. FOB Plant Pork closed down .58 at 82.41. Ham value rose 7.34 to 88.06, while loin value fell 4.55 to 72.42 and bellies lost 6.51 to 108.64.

US$ +.1% 93.41 (high- 94.30)

Dow +368 27848

SP +74 3443

NAS +430 11591

Tran -168 11392

  VIX -5.98 29.57

 

WTI +148 3914

Brent +151 4122

Gas +3 111

NG unch 306

HO +4 117

Eth -3 135

Gold -7 1903

Slvr -34 2399

 

2-yr -.019 0.149%

5-yr -.060 0.331%

10yr -.113 0.768%

30yr -.109 1.545%

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