Market Closes - October 7, 2020
Posted on Oct 7, 2020Corn Dec +4 389 (384-92); Mar +3 397; Dec21 unch 395
Bean Nov +7 1051 (1037-60); Mar -3 1032; Nov21 -6 966
Meal Oct +7 361 (354-61)
Oil +2 3331
Wheat Dec +15 607; Jly +9 605 (593-609)
KC +10 544; MGE +11 549
Oats +3 294
Rice +3 1266
LC Oct +97 11017; Dec +115 11310; Feb +57 11592
FC Oct +37 13850; Jan +17 13632; Mar +5 13605
LH Oct +55 7687; Dec +70 6457; Feb +17 6912
Milk Oct +3 2057; Nov -19 1940
CBOT futures closed mostly higher as many corn, bean and wheat contracts traded new highs. Market support continues to come from export sales optimism and unfavorable moisture in South America and key wheat areas. Russia plans to set export quotas for Jan-June 2021.
Cattle futures closed higher with live cattle supported by higher cash prices and firm boxed beef. Choice beef edge up .64 to 216.88 and Select beef dropped 1.26 to 205.58. Cash trade has been light with dressed sales at $169/cwt, up $1.00 from last week. A few cattle sold at $108.50/cwt on the online Fed Cattle Exchange.
Lean hog futures closed higher, supported by higher pork cutouts and LH futures discount to the cash market. FOB Plant Pork ended up 2.63 at 95.18 on an 11.75 gain in the ham value to 79.09. Ham value is very volatile from day to day.
US$ -.2% 9364
Dow +531 28303
SP +58 3419
NAS +210 11365
Tran +291 11690
VIX -1.42 28.06
WTI -63 4030
Brent -54 4211
Gas -3 120
NG +7 259
HO -3 116
Eth unch 138
Gold -17 1891
Slvr -2 2390
2-yr +.006 0.153%
5-yr +.025 0.340%
10yr +.043 0.783%
30yr +.044 1.581%
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