Corn Dec +13 533 (520-34); Mar +12 541; Dec22 +5 507

Bean Nov +12 1294 (1276-96); Mar +11 1308; Nov22 +8 1265

  Meal Oct -2 336 (335-40)

  Oil Oct +157 5831 (5672-5845)

Wheat Dec +11 712 (695-715); Jly +8 710

  KC +14 716; MGE +17 905

Oats +24 539

Rice +15 1379

 

LC Oct +5 12417; Dec -20 12945; Feb -10 13315

FC Sep -55 15472; Nov -215 15757; Jan -150 15850

LH Oct +190 8227; Dec +7 7225; Feb -37 7537

Milk Sep +1 1660; Oct -4 1723

CBOT futures mostly closed strongly higher and near the day’s highs. Corn led the rally with strong follow-through buying to Tuesday’s rally. While USDA raised its production estimate last Friday, traders are concerned that the crop is not finishing well amid some reports of disappointing corn yields. Wheat rallied in sympathy with corn as well as from rising futures and a lower export forecast for French wheat.

Live cattle closed slightly lower with bigger losses in the feeder futures due to higher corn prices. Very weak boxed beef values discouraged follow-through buying to Tuesday’s nice rally. Choice beef dropped 3.07 to 319.82 and Select collapsed 6.73 to 283.89. Beef movement was huge at 191 loads. Light cash fed trade was reported by USDA at steady prices, or $123-125/cwt live and $200/cwt dressed.

Lean hog futures were down slightly except for nearby October LH which closed up 1.90 @ 82.27.  After hitting a 6-month low yesterday, October LH rallied on its roughly $15/cwt discount to the CME LH Index. Technical buying could lead to further strength tomorrow. FOB Plant Pork rose .50 to 105.70. Loin value fell 7.43 to 108.03, rib value dropped 9.63 to 122.65 and ham value rose 9.51 to 86.27. Pork movement was a strong 402 loads.

US$ -.2%  92.48

Dow +236 34814

SP +38 4481

NAS +124 15162

Tran +135 14421

  VIX -1.31 18.15

 

WTI +210 7233

Brent +186 75446

Gas +3 221

NG +20 546

HO +4 221

Eth unch 221

Gold -12 1793

Slvr -8 2380

 

2-yr +.002 0.211%

5-yr +.016 0.797%

10yr +.022 1.301%

30yr +.013 1.865%

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