Market Closes - October 13, 2020
Posted on Oct 13, 2020Corn 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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