Market Closes - October 3, 2013

Posted on Oct 3, 2013
CBOT futures traded in mixed fashion again today with the soy complex the strongest market, led higher by soybean oil futures (reversed yesterday’s huge losses). Wheat futures also closed higher but well off the day’s highs which occurred about noon CT. December Wheat futures at all 3 exchanges have been up 8-9 days in a row, so prices are “overbought” which could encourage profit-taking by the longs going into the weekend. Corn futures also peaked around noon and sold off sharply to close near the day’s lows.

The government shutdown continues to mean lots of missing market data. It could cause the next scheduled Crop Production Report and Supply-Demand updates to be postponed beyond the October 11 scheduled date.  The CME Group and others have had to modify price calculation methods due to missing USDA price data.

Probably because of missing USDA livestock and meat data, the CME cattle and hog futures markets have had minimal price changes this week and have traded in relatively narrow price ranges. Cash cattle traded steady to $1 lower in the Plains. Feeder Cattle futures closed lower today, giving up yesterday’s gains. Corn Dec unch 439; Jly +.5 467.5; Dec14 +.5 481 Bean Nov +14 1288; Jly +11 1245; Nov14 +11 1170 Meal Dec +4 415; Jly unch 387 Oil +89 4001

Wheat Dec +3 689; Jly +10 691 KC +1 755;  MGE +3 750

Oats +3 317 Rice -7 1490

LC Oct +12 12742; Dec -5 13177; Apr -12 13480 FC Oct -47 16410; Jan -37 16540; Apr -20 16495 LH Oct +35 9130; Dec +60 8677; Feb +45 8915 Milk Oct +4 1813; Nov unch 1786

US$ -.2% Dow -137 14996 SP -15 1679 NAS -41 3774 Tran -70 6574 VIX +1.07 17.67  +6.4%

WTI Oil -120 10290 Brent Oil -58 10861 Gas unch 263 NatGas -3 351 Htg Oil +1 300 Ethanol +4.5 167

Gold -4 1317 Slvr -19 2170

Treasury Yields 2-yr -.01 0.32% 5-yr -.03 1.36% 10yr -.02 2.61% 30yr unch 3.71% KENTUCKY CASH GRAIN BIDS Click Here

Tagged Post Topics Include: Economics, Market updates