Market Closes - November 5, 2020
Posted on Nov 5, 2020Corn Dec +4 409 (404-17); Mar +3 415; Dec21 +2 396
Bean Jan +17 1104 (1083-1113); Mar +18 1098; Nov +13 1003
Meal Dec +2 388 (384-93)
Oil +108 3547
Wheat Dec +3 609; Jly +3 607 (603-19)
KC +3 563; MGE +4 561
Oats +5 302
Rice +15 1267
LC Dec +47 10835; Feb +67 11145; Apr +62 11530
FC Nov -12 13757; Jan +25 13540; Mar -12 13475
LH Dec +107 6742; Feb +147 6847; Apr +112 7052
Milk Nov -19 2358; Dec -75 1942
CBOT futures closed strongly higher but far off the day’s highs which were set by 9 am CT. Corn and soybean futures popped on strong weekly export sales but futures drifted lower throughout the day. A weaker US Dollar, higher precious metals and soaring stock market also were supportive, but not sufficient to maintain the highs. Soybean and meal futures, along with some corn contracts traded new contract highs today.
Cattle futures closed higher on strength in the boxed beef market. Today’s weekly beef export sales report was friendly, as was the weekly beef export shipments which hit a marketing year high. Choice beef jumped 2.36 to 212.55 and Select rose 1.92 to 198.97. Cash trading has picked up with firmer prices. Live price is $107 and dressed price is $167/cwt. Feedlots are looking for $108-110/cwt.
Lean hog futures closed sharply higher in follow-through buying to yesterday’s gains. LH were supported by strong weekly export sales and a hot pork market. FOB Plant Pork closed up 3.97 at 86.38, much lower than the morning quote of 91.00 (up 8.59). The gain was fueled by a 10.30 gain in ham value, a 3.40 gain in the loin and a gain of 4.28 in belly value. Rib value did drop 4%.
US$ -1% 92.55
At the bottom of the 2-month range. Support at 91.74 from September 1.
Dow +543 28391
SP +67 3510
NAS +300 11891
Tran +277 11669
VIX -1.72 27.85
WTI -65 38.50
Brent -56 4067
Gas unch 111
NG -11 293
HO -1 116
Eth +5 140
Gold +54 1950
Slvr +156 2545
2-yr +.004 0.149%
5-yr +.009 0.332%
10yr +.003 0.771%
30yr -.012 1.538%
“Across Kentucky” podcast - Click Here
KENTUCKY CASH GRAIN PRICES – Click Here
KENTUCKY LIVESTOCK AUCTIONS -- Click Here
Comments