Market Closes - October 27, 2020
Posted on Oct 27, 2020Corn 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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