Market Closes - October 11, 2016
Posted on Oct 11, 2016CBOT futures closed steady to slightly higher ahead of tomorrow’s USDA Crop Production and WASDE reports. A very strong US Dollar and weaker crude oil futures weighed on prices as did disappointing weekly export inspections for corn and wheat; soybean inspections were strong. As of Sunday, corn and soybean harvest is slightly behind the 5-year average.
Crop Progress for week ending October 9
U.S. Corn
. Mature Harvested
This Week 93% 35%
Last Year 92% 38%
5-year Avg. 88% 38%
U.S. Soybeans
. Dropping Leaves Harvested
This Week 91% 44%
Last Year 90% 56%
5-year Avg. 88% 47%
Cattle futures closed lower, adding to Monday’s sharp losses. Choice Beef lost .82 to 183.18 and Select fell 2.11 to 172.75.
Lean Hog futures closed higher but off the day’s highs. Pork values ended the day much lower than seen during the trading session. FOB Plant Pork dropped .90 to 72.17 as ham, loin and butt values dropped about 3%. The midday quote was up .07.
Corn Dec +2 345; May +2 362
Bean Nov unch 954; may unch 975
Meal +1 298
Oil -46 3316
Wheat Dec +3 407; Jly +1 450
KC -1 406; MGE +2 524
Oats +2 199
Rice +16 1039
LC Oct -137 9750 (low 9667); Feb -42 10055; Apr -25 10037
FC Oct -52 12412; Jan -35 11555; Apr -22 11407
LH Oct +77 5145; Dec +40 4277; Feb +52 5010
Milk Oct -10 1472; Nov -33 1492
US$ +.8% 97.65 - the highest level since March. 1-year range = 92 to 100.5
Dow -200 18129
SP -27 2137
NAS -82 5247
Tran -50 8087
VIX +1.98 15.36 +14.8%
WTI -57 5078
Brent -67 5247
Gas -1 148
NG -6 322
HO -2 159
Eth unch 155
Gold -6 1255
Slvr -17 1749
2-yr +.024 0.870%
5-yr +.026 1.296%
10yr +.030 1.766%
30yr +.032 2.501%
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