Market Closes - October 9, 2013 - Kentucky Farm Bureau

Market Closes - October 9, 2013

Posted on Oct 9, 2013
CBOT futures closed little changed as the market deals with a lack of price and trade data due to the government shutdown. Outside markets were bearish commodities as the US dollar strengthened and crude oil and precious metals fell sharply.

Corn futures made small gains on support from news that China recently made a big corn purchase. Last week’s low at $4.35 remains safely below the market and offers support.

Wheat futures closed down slightly after Tuesday’s generally positive market. Prices remain near the highs posted in this 2-week rally.

Cattle futures also dropped slightly after Tuesday’s strong price action.

Lean Hog futures fell sharply from relatively high levels.  A lack of hog and pork price data along with weak financial markets may have encouraged profit-taking by the longs.  The CME Group announced how the October Lean Hog contract will be cash-settled if USDA price data is not available by the 15th.

Corn Dec +2 443.5; Jly +2 472; Dec14 +2 485 Bean Nov -1 1288; Jly -5 1247; Nov14 -2 1176 Meal Dec -3 412; Jly -3 385 Oil +24 4067

Wheat Dec -3 690; Jly -2 698 KC -1 759;  MGE unch 753

Oats +1 318 Rice +37 1512

LC Oct -27 12800; Feb -47 13357; Apr -40 13467 FC Oct -25 16455; Jan -20 16637; Apr -17 16612 LH Oct -140 8982; Dec -167 8652; Feb -125 8910 Milk Oct +4 1814;  Nov +12 1802

US$ +.45% Dow +26 14803 SP +1 1656 NAS -17 3678 Tran +13 6460 VIX -.74 19.60

WTI -212 10137 Brent -120 10896 Gas -1 262 NG -1 370 HO -2 301 Eth +3 172

Gold -18 1307 Slvr -53 2191

2-yr -.03 0.37% 5-yr steady 1.43% 10yr +.03 2.67% 30yr +.05 3.74%

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Tagged Post Topics Include: Economics, Market updates


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