Market Closes - October 21, 2020

Posted on Oct 21, 2020

Corn Dec +5 414 (408-15); Mar +3 417; Dec21 -1 399

Bean Nov +8 1072 (1064-77); Mar +6 1059; Nov21 +3 982

  Meal Dec +7 379

  Oil -11 3320

Wheat Dec -2 630; Jly +2 621 (618-25)

  KC -1 570; MGE +5 582

Oats +4 304

Rice -4 1219

 

LC Oct -47 10365; Dec -87 10457; Feb -57 10807

FC Oct -10 13440; Jan +37 12707; Mar +25 12715

LH Dec -5 6920; Feb -82 6845; Apr -60 7080

Milk Oct +14 2160; Nov -64 2085; Dec -64 1870

Corn, soybeans and soybean meal closed strongly higher, led by the meal market. Soybean and meal futures made new contract high closes today. Support continues to come from the bullish momentum of strong exports and less competition. KC and Chicago wheat futures tried to rally with corn/beans but faded to close poorly.

Cattle futures closed mixed with live cattle mostly lower and feeder futures mostly higher. LC have been pressured by weaker cash fed prices and lower boxed beef values. Choice beef closed down 2.13 to 208.47 and Select lost .76 to 190.91. Movement was heavy. Negotiated cash trading has been limited on lower prices -- $104-105/cwt live and $162-165/cwt dressed. Formula purchases averaged 896 pounds and $174.38/cwt.

Lean hog futures closed lower and near the day’s lows. LH was weighed down by Tuesday’s down market. FOB Plant Pork closed up 1.25 at 98.16. A huge 21% gain in the ham value was offset by significant losses in the other primal cuts. Belly value dropped 4%; Rib value fell 3.6%; butt value was down 5.5%; and loins and picnics down around 3%.

US$ -.4% 92.65

Dow -98 28211

SP -8 3436

NAS -32 11485

Tran -135

  VIX -.7 28.65

 

WTI -176 3995

Brent -149 4167

Gas -5 113

NG +8 334

HO -3 115

Eth +1 145

Gold +12 1928

Slvr +17 2515

 

2-yr +.002 0.149%

5-yr +.011 0.354%

10yr +.022 0.819%

30yr +.024 1.627%

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