Corn Dec +1 359 (354-59); Mar +1 369

Bean Nov +7 962 (946-63); Mar +8 970

  Meal Oct unch 305 (302-06)

  Oil +63 3339

Wheat Dec -6 558; Jly -3 569 (566-75)

  KC -6 479; MGE +1 547

Oats -3 276

Rice +5 1228

 

LC Oct -100 10447; Dec -70 10845; Feb -70 11205

FC Sep -142 13870; Nov -117 14035; Jan -92 13857

LH Oct +137 5640; Dec +72 5650; Feb +30 6237

Milk Sep +75 limit 1663; Oct +75 1902

CBOT futures closed widely mixed in wide trading ranges. Corn and soybeans traded to their lows overnight, then rallied to the day’s highs during the day session, settled near those highs. Wheat was also weaker overnight, tried to rally with corn/beans at 8:30 am CT, but remained weak the balance of the day. Traders ignored rain in IL and eastern IA, no daily export sales announcements, and a stronger US Dollar to push corn and beans strongly off the early lows. The sharp 2% gain in soybean oil futures added support to soybean futures. Traders remain optimistic China still has a lot of corn and beans to purchase. They look forward to Thursday morning’s weekly export sales report. After Tuesday’s sharp rally, it was easy for wheat to trade lower when USDA didn’t announce any export sales to China that were rumored yesterday. A stronger US Dollar and some rains in the Plains added pressure.

Cattle futures closed lower and hitting new lows for this 2-week downtrend. LC hasn’t been this low in six weeks.  Futures were pressured by weaker fed cattle prices (mostly $103/cwt) and boxed beef. Choice beef ended down .76 at 227.58 and Select fell .93 to 213.82.

Lean hog futures made variably higher price gains today. October LH hit new highs at a price not seen since May. FOB Plant Pork closed down 1.03 at 73.51, compared to the morning quote of 75.55. Loin value fell a sharp 13%, ham value shot 17% higher to 66.18, and picnics jumped nearly 20%.

US$ +.4% 92.64

Dow +455 29100

SP +54 3581

NAS +117 12056

Tran +135 11452

  VIX +.45 26.57

 

WTI -116 4192

Brent -119 4439

Gas -2 120

NG -4 249

HO -4 119

Eth -10 121

Gold -28 1942

Slvr -103 2746

 

2-yr +.002 0.135%

5-yr -.002 0.253%

10yr -.023 0.648%

30yr -.046 1.378%

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