Market Closes - October 20, 2020
Posted on Oct 20, 2020Corn Dec +3 409 (403-10); Mar +3 413; Dec21 +2 400
Bean Nov +10 10164 (1051-66); Mar +11 1053; Nov21 +6 979
Meal Dec -1 372
Oil +78 3331
Wheat Dec +5 632; Jly +8 618 (608-20)
KC +8 571; MGE +8 578
Oats +2 300
Rice -21 1224
LC Oct +12 10412; Dec +30 10545; Feb +47 10865
FC Oct -10 13450; Jan +147 12670; Mar +197 12690
LH Dec -217 6925; Feb -157 6927; Apr -92 7140
Milk Oct +4 2146; Nov -31 2134; Dec -19 1929
Corn, soybeans and wheat futures closed higher and near the day’s highs. Support came from fund buying amid optimism that strong export sales will continue. Wheat garnered support from the ongoing dry soils in HRW country during planting season. Given record world wheat supplies, wheat prices are most vulnerable to a sell-off.
Cattle futures closed higher, bouncing back from early weakness on follow-through selling. Support came from stronger beef values in the morning; beef cutouts weakened some by the afternoon. Choice beef climbed .86 to 21.60 and Select slipped .17 to 191.67. Cash trading remains light at similar prices as of Monday -- $106 live and $166 dressed.
Lean hog futures closed lower on profit-taking after the strong October rally. Cash hog prices were weaker. FOB Plant Pork closed down 1.19 at 96.91 after being up 1.77 in the morning. Today’s weakness was tied to ham losing 7.16 to 78.68 in value.
US$ -.3% 93.09
Dow +113 28309
SP +16 3443
NAS +38 11516
Tran +152 11860
VIX +.22 29.40
WTI +11 4117
Brent +10 4272
Gas +1 1116
NG -1 327
HO unch 117
Eth unch 144
Gold -1 1910
Slvr +8 2478
2-yr unch 0.147%
5-yr +.013 0.343%
10yr +.034 0.796%
30yr +.055 1.603%
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