Corn Dec -5 559 (556-70); Mar -4 568; Jly -4 573

Bean Jan -21 1223 (1216-47); Mar -21 1234; Jly -20 1251

  Meal Dec -5 336 (333-41)

  Oil -145 5958

Wheat Dec -7 774 (772-94); Jly -7 779

  KC Dec -5 786; MGE -27 1017

Oats -5 741

Rice +17 1344

 

LC Dec -102 13062; Feb -80 13585; Apr -60 13882

FC Nov -115 15802; Jan -105 15817; Apr -97 16232

LH Dec +192 7787; Feb +162 8017; Apr +142 8410

Milk Nov -12 1796; Dec -11 1786

CBOT futures posted sharp losses, closing near the day’s lows. This makes for three straight days of corn and wheat futures closing down. While it’s only the second down day for soybeans, this market has seen much more of its October rally be erased after today’s nearly 2% drop. Corn experienced more profit-taking on pressure from lower energy futures and a stronger US Dollar. Strong weekly corn export sales limited the losses. Traders also ignored strong weekly soybean export sales and drove soy complex futures lower. Wheat futures traded higher soon after the 830 am opening but traded down throughout the morning and stuck near the lows until the closing bell. U.S. wheat export prices are not competitive.  

Cattle futures closed lower and near the lows of yesterday’s trading ranges. Futures weakened as traders wait for more evidence of cash market strength. Cash trading was mostly inactive. Choice beef rose 1.73 to 290.22 and Select edged .50 higher to 268.22. Beef movement was again heavy at 147 loads.

Lean hog futures closed strongly higher after gapping up on the open. This strength came from a huge weekly pork export sales report of 45,700 MT, up 55% from a week ago and up 72% from the 4-week average. FOB Plant Pork dropped 2.75 to 97.69. Primal cutout values were widely mixed with loin up 7.72, butt down 9.64, ham down 17.54 and belly up 6.23. Pork movement was very strong at 418 loads.

 

US$ +.5% 94.34

Dow -33 36124

SP +19 4680

NAS +129 15940

Tran -128 16733

  VIX +.33 15.43

 

WTI -187 7770

Brent -145 8054

Gas -5 229

NG +5 572

HO -3 241

Eth unch 221

Gold +30 1793

Slvr +68 2391

 

2-yr -.052 0.426%

5-yr -.071 1.114%

10yr -.049 1.530%

30yr -.021 1.965%

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