Market Closes - September 22, 2020
Posted on Sep 22, 2020Corn Dec unch 369 (366-73); Mar unch 379
Bean Nov -3 1020 (1018-41); Mar -2 1019
Meal +4 337 (331-40)
Oil -60 3367
Wheat Dec +3 558; Jly +1 568 (562-76)
KC +4 492; MGE +5 540
Oats +5 289
Rice +30 1252
LC Oct -22 10647; Dec -42 11017; Feb -105 11420
FC Sep +62 14170; Nov -155 14117; Jan -147 13945
LH Oct +272 6832; Dec +255 6410; Feb +185 6907
Milk Sep +1 1627; Oct -122 1843; Nov -81 1817
CBOT futures closed mixed after trading some wide ranges. Futures generally made the lows in overnight trading and then set the daily highs soon after the 830 am reopening thanks to sizable export sales of corn and soybeans to China being announced in the daily report. Soybean meal and oil traded in opposite directions, leaving soybean futures down slightly. October meal traded to a new high; meal futures were last this high in the summer of 2018. A stronger US Dollar weighed on prices.
Cattle futures opened higher but closed lower with feeder futures ending near the day’s lows. Cattle were pressured by weaker boxed beef and ideas that cash feds will be steady to lower on the week. Traders are also facing the Monthly Cattle on Feed Report on Friday which is expected to show record on-feed numbers. Choice beef ended down .78 to 215.44 and Select gained .48 to 206.30.
Lean hog futures closed higher, in the upper range, and more than erasing Monday’s losses. Hogs were supported by a very strong pork market and by October LH’s discount to the CME LH cash index. After being up 4.17 in the morning, FOB Plant Pork finished down 1.43 at 88.66. Ham value went from 99.39 in the morning to 79.15 in the afternoon, down 16.45 from Monday. The other primal cuts were higher in value from yesterday. Traders will prepare for Thursday’s Quarterly Hogs & Pigs Report.
US$ +.4% 93.96
Dow +140 27287
SP +34 3315
NAS +185 10964
Tran +85 11215
VIX -1.1 26.71
WTI +22 3976
Brent +26 4170
Gas unch 117
NG +1 184
HO -1 110
Eth unch 132
Gold -6 1904
Slvr +12 2451
2-yr -.002 0.135%
5-yr -.002 0.266%
10yr +.003 0.674%
30yr unch 1.426%
“Across Kentucky” podcast - Click Here
KENTUCKY CASH GRAIN PRICES – Click Here
KENTUCKY LIVESTOCK AUCTIONS -- Click Here
Comments