Market Closes - October 27, 2020

Posted on Oct 27, 2020

Corn Dec -2 416 (415-22); Mar -2 4167; Dec21 -1 391

Bean Nov -5 1082 (1082-94); Mar -8 1061; Nov21 -5 978

  Meal Dec -6 384 (383-93)

  Oil -35 3411

Wheat Dec -4 616; Jly -2 606 (604-12)

  KC -3 549; MGE -3 561

Oats +1 308

Rice +19 1248

 

LC Oct +87 10485; Dec +65 10405; Feb +62 10702

FC Oct +60 13430; Jan +165 12842; Mar +160 12805

LH Dec -10 6765; Feb +40 6805; Apr +30 7037

Milk Oct -1 2162; Nov -47 2229; Dec –71 2028

CBOT futures closed lower and at/near the day’s lows. Futures were stronger overnight and in some cases soon after the 8:30 am opening. However, without any daily export sales announcements, profit-taking took prices lower into the close. Corn, soybean meal and some soybean contracts made new contract highs today before settling lower. Some rainfall in South America and the snow/ice/rain in the Plains took some support away.

Cattle futures closed higher today despite weakness in beef values and no cash market activity. Choice beef dropped 1.13 to 206.70 and Select rose .18 to 188.67. Load count was the highest since Oct 21. Negotiated trade remains inactive. Formula purchases averaged 912 pounds and $171.74/cwt.

Lean hog futures closed slightly higher except for the December LH’s 10-cent loss. LH closed well below the day’s highs which were established soon after the opening. Compared to the morning quote of 94.89, FOB Plant Pork closed sharply lower at 88.83, down 3.03. Ham value fell 10.86 to 80.41.

 

US$ -.1%

Dow -222 27463

SP -10 3391

NAS +72 11431

Tran -173 11432

 

WTI +52 3908

Brent +37 4083

Gas +2 111

NG +5 331

HO +2 115

Eth -1 150

Gold +3 1909

Slvr +7 2449

 

2-yr unch 0.149%

5-yr -.016 0.333%

10yr -.027 0.776%

30yr -.033 1.561%

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