Market Closes - October 13, 2020 - Kentucky Farm Bureau

Market Closes - October 13, 2020

Posted on Oct 13, 2020

Corn Dec +2 391 (388-93); Mar +2 399; Dec21 +2 395

Bean Nov +10 1044 (1032-46); Mar +11 1037; Nov21 +8 976

  Meal Oct +2 358 (358-64)

  Oil +58 3372

Wheat Dec unch 594; Jly -2 593 (589-601)

  KC +1 531; MGE +1 544

Oats +1 284

Rice -7 1223

 

LC Oct +47 10882; Dec +40 11122; Feb +57 11365

FC Oct +82 13812; Jan +57 13422; Mar +62 13325

LH Oct -37 7780; Dec -47 6615; Feb -10 7012

Milk Oct -1 2116; Nov +10 2058

CBOT futures were mostly higher with one percent gains or less. Trading ranges were narrow as prices recovered a small part of Monday’s losses in corn and soybeans. No daily export sales were reported.

U.S Crop Progress

Corn is 94% mature vs 87% last week and 87% 5-yr avg
Corn harvest is 41% complete vs 32% for 5-yr avg

Soybeans are 93% dropping leaves vs 85% last week and 90% 5-yr avg
Soybean harvest is 61% complete vs 42% for 5-yr avg

Winter Wheat planted is 68% complete vs 61% for 5-yr avg

U.S Crop Conditions
Crop        Good/Exc   Poor/V.Poor
    (  )change from last week
Pasture      22%(-4)    40%(+2)

 

The U.S. Department of Agriculture (USDA) announced Friday, Oct. 30, 2020, as the deadline to submit applications for the Wildfire and Hurricane Indemnity Program – Plus (WHIP+) for 2018 and 2019 losses. USDA did not originally specify a deadline when the program was announced. 
https://content.govdelivery.com/accounts/USFSA/bulletins/2a59756


LC Oct +47 10882; Dec +40 11122; Feb +57 11365

FC Oct +82 13812; Jan +57 13422; Mar +62 13325

LH Oct -37 7780; Dec -47 6615; Feb -10 7012

 

Cattle futures closed slightly higher after a significant morning sell off into negative territory. The recovery may indicate traders are optimistic for cash and futures the balance of the week.  Choice beef dropped 2.18 to 212.44 and Select slid .26 to 200.08. Negotiated cash trading has been light at $107-108/cwt. The dressed market is not established.

Lean hog futures closed with minimal losses, having climbed back from sharp losses early in the session. The recovery was fueled by very strong pork values and generally friendly fundamentals. FOB Plant Pork was up 6.72 in the morning, but closed up only 1.59 at 95.90. Ham value rose 6% to 71.88, compared to 83.27 in the morning.   

US$ +.5% 93.52

Dow -158 28680

SP -22 3512

NAS -12 11864

Tran -97 11783

  VIX +1.00 26.07

 

WTI +76 4049

Brent +73 4245

Gas +1 118

NG -3 285

HO +1 117

Eth +1 141

Gold -34 1895

Slvr -114 2413

 

2-yr -.012 0.141%

5-yr -.030 0.306%

10yr -.046 0.729%

30yr -.061 1.513%

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