Given the partial government shutdown and lack of “tapering” by the Federal Reserve, U.S. interest rates continue to weaken (the trend began in early September).  This has helped to weaken the value of the US dollar. The US dollar index has not been this low since February 2013.

CBOT futures closed mixed with big differences in the soy complex.  Soybean meal futures closed strongly higher on reports that South Korea made large purchases from multiple exporting countries.  At the same time, soybean oil dropped over two percent on ideas the global vegetable oil situation is oversupplied.

Wheat futures also closed higher on the strong export situation and friendly outside markets.  Brazil and Argentina’s wheat crops are suffering from unfavorable weather.

Corn futures traded narrow 5-6 cent ranges today.  Harvest pressure was offset by the rising wheat market.

Livestock futures closed little changed as cash market price data will be less available during the partial government shutdown.

Corn Dec unch 439; Jly +.5 467; Dec14 unch 480 Bean Nov +6 1274; Jly +5 1234; Nov14 +9 1159 Meal Dec +8 412; Jly +5 386 Oil -89 3912

Wheat Dec +5 686; Jly +6 682 KC +9 754;  MGE +10 747

Oats -1 314 Rice unch 1497

LC Oct +5 12730; Dec -7 13182; Apr +32 13490 FC Oct +17 16457; Jan +57 16577; Apr +55 16515 LH Oct -2 9090; Dec +30 8620; Feb +45 8870 Milk Oct -4 1809; Nov -7 1786

US$ -.3%

Dow -59 15133 SP -1 1694 NAS -3 3815 Tran -28 6644 VIX +1.06 16.60  +6.8%

WTI +182 10386 Brent +107 10902 Gas +2 263 NG -7 354 HO +4 299 Eth -4 163

Gold +30 1317 Slvr +57 2175

2-yr -.01 0.34% 5-yr -.05 1.39% 10yr -.03 2.62% 30yr -.02 3.70% 

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