Market Closes - November 5, 2020

Posted on Nov 5, 2020

Corn 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%

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