Market Closes - November 8, 2016

Posted on Nov 8, 2016

CBOT futures closed strongly higher ahead of tomorrow’s USDA crop reports.  Fund buying lifted the markets as traders covered some short positions in corn and wheat. The soy complex led the market higher, adding to the gains made Monday. However, soybean futures closed well of the day’s highs which were made mid-morning.

Live cattle futures closed higher, erasing Monday’s losses. With weakness in boxed beef, there’s little fundamentals to justify today’s gains other than position evening ahead of Election results. Choice dn 1.93 at 185.34; Select dn 0.38 at 171.94.

Lean hog futures closed narrowly mixed. 2017 LH futures are nearing the highs set at the end of October. FOB Plant Pork dropped .06 to 74.24.

Corn Dec +8 354; May +7 370

Bean Jan +13 1011; May +13 1025

  Meal +4 316

  Oil +52 3531

Wheat Dec +5 415; July +6 463

  KC +7 417; MGE +7 514

Oats -2 226

Rice -6 951

 

LC Dec +105 10270; Apr +130 10445

FC Nov +32 12440; Jan +322 11947; Apr +222 11597

LH Dec -35 4675; Feb +40 5437; Apr +32 6152

Milk Nov -18 1679; Dec -26 1646

 

US$ +.2%

Dow +73 18333

SP +8 2140

NAS +27 5193

Tran -2 8328

  VIX +.03 18.74

 

WTI -6 4483

Brent -27 4588

Gas unch 137

NG -20 262

HO unch 144

Eth unch 155

Gold -3 1276

Slvr +21 1836

 

2-yr +.036 0.858%

5-yr +.039 1.330%

10yr +.030 1.858%

30yr +.015 2.617%

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