Market Closes - September 13, 2021
Posted on Sep 13, 2021Corn Dec -4 513 (507-20); Mar -4 522; Dec22 -3 498
Bean Nov -2 1285 (1277-94); Mar -1 1298; Nov22 unch 1258
Meal Oct +2 341 (336-42)
Oil +2 5580 (5551-5624)
Wheat Dec -1 687 (679-90); Jly unch 690
KC Dec +4 686; MGE -3 876
Oats Dec +17 510
Rice Nov +7 1355
LC Oct -115 12227; Dec -107 12715; Feb -160 13042
FC Sep -205 15220; Nov -197 15715; Jan -215 15725
LH Oct -167 8077; Dec -272 7337; Feb -250 7675
Milk Sep unch 1659; Oct -13 1737
Corn and soybean futures closed lower, although well off the day’s lows, as traders were disappointed there wasn’t follow-through buying to Friday’s higher closes. Buyers are reluctant given the start of corn harvest and continued problems with export loadouts following hurricane damage.
U.S Crop Progress
Corn rated good/excellent is 58% vs 59% week ago and 60% year ago. Acreage rated v.poor/poor is 15% vs 14% week ago and 15% year ago.
Corn Dented is at 87% vs 81% for 5-yr avg.
Corn Mature is 37% vs 31% for 5-yr avg.
Soybean acreage rated good/excellent is 57% vs 57% week ago and 63% year ago. Acreage rated v.poor/poor is 14% vs 14% week ago and 11% year ago. Soybeans Dropping Leaves are 38% vs 29% 5-year avg.
Pasture and Range Condition:
25% good/excellent vs 24% year ago
42% poor/v.poor vs 42% year ago
Cattle futures closed lower, pressured by weaker boxed beef values and a weekend fire at the JBS plant in Grand Island, NE. This plant has a 6,000 head/day capacity. Choice beef lost 1.29 to 325.93 and Select fell 1.21 to 292.16. Cattle futures have slid $10-12/cwt the past three weeks. October LC has come down to meet the cash fed market.
Lean hog futures also closed sharply lower and are down around $9/cwt in the past week. LH was pressured by falling cash hog and wholesale pork prices. The CME LH Index is at a huge premium to the October LH price. FOB Plant Pork dropped 3.98 to 101.12 with every primal losing value. The ham dropped 8.83 to 67.73. The cutout value is down to values last seen in March.
US$ steady 92.62
Dow +262 34870
SP +10 4469
NAS -10 15106
Tran +82 14449
VIX -1.58 19.37
WTI +73 7045
Brent +59 7351
Gas +1 216
NG +29 523
HO +1 216
Eth unch 221
Gold +2 1794
Slvr -10 2380
2-yr -.004 0.213%
5-yr -.010 0.806%
10yr -.015 1.326%
30yr -.028 1.906%
“Across Kentucky” podcast - Click Here
KENTUCKY CASH GRAIN PRICES – Click Here
KENTUCKY LIVESTOCK AUCTIONS -- Click Here
Comments