Market Closes - September 24, 2014

Posted on Sep 24, 2014
CBOT futures closed higher as funds were buyers given the “oversold” conditions. Going into the end of month and quarter, it appears traders are reluctant to press futures lower. By October, the oversold condition could be relieved somewhat and harvest selling could pick up.

Cash Soybean Meal Basis is cracking as new-crop beans come to market. Cash Meal at Cairo, IL, dropped from $467/ton yesterday to $371/ton tonight. Owensboro remains at $466 tonight.

Cattle futures closed mixed with minimal price changes. Traders are watching the cash cattle and beef markets for signs of a bottom. Choice carcasses dn 0.04 at 239.13; Select dn 0.98 at 226.31/cwt.

Lean Hog futures were uneventful today. FOB Plant Pork finished up .60 to 117.43/cwt.

Corn Dec +4 329 (325-30); May +4 351; Dec15 +3 375 Bean Nov +1 937 (934-42); May +2 960; Nov15 +2 954 Meal Oct -1 316; May -1 305 Oil +39 3262 Wheat Dec +4 480; Jly +3 508 (502-10) KC +2 564; MGE +3 538 Oats +8 340 Rice +7 1273

LC Oct -12 15532; Feb -40 15950; Apr +17 15985 FC Sep +17 23107; Oct +25 23040; Mar +45 22080 LH Oct -42 10745; Dec -5 9520; Feb -10 9095 Milk Oct +33 2499; Nov +53 2281

US$ +.4%

Dow +154 17210 SP +15 1998 NAS +47 4555 Tran +58 8503 VIX -1.66 13.27 -11%

WTI +131 9287 Brent +22 9707 Gas +5 268 NG +8 390 HO +1 269 Eth -1 161 Gold -5 1217 Slvr -11 1766

2-yr +.011 0.590% 5-yr +.037 1.798% 10yr +.033 2.565% 30yr +.029 3.280% 

Do you recognize this BUG ? Click HERE to read the UK Grain Blog for the answer.

Blue Grass East Stockyards Cattle Auction Report for 09/24/2014

Cattle Receipts: 932 Last Week: 1293 Year Ago: 1190 Weekly receipts: 1127 Compared with last week steer calves sold mostly steady except 500-600 lbs sold weak in a light test with moderate to good demand; yearling steers lightly tested. Heifer calves sold steady with good demand except 400-500 lbs sold steady to 2.00 lower with moderate demand; yearling heifers lightly tested. Quality was good through attractive. Slaughter cows and bulls sold 2.00 higher with good demand.

KENTUCKY CASH GRAIN PRICES Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

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Tagged Post Topics Include: Economics, Market updates