Market Closes - September 24, 2019
Posted on Sep 24, 2019Corn Dec +1 375 (370-76); Jly unch 398
Bean Nov +2 894 (890-99); Jly +1 936
Meal +1 295 (294-98)
Oil +1 2920
Wheat Dec -1 482; Jly unch 498 (493-98)
KC -1 405; MGE +7 544
Oats -6 273
Rice -6 1200
LC Oct +27 10212; Dec -35 10742; Apr -5 11685
FC Sep -35 14125; Nov +47 14020; Jan +52 13637
LH Oct +105 6200; Dec +72 6910; Feb +80 7592
Milk Sep -1 1825; Oct -22 1811
CBOT futures closed narrowly mixed with high-range closes in corn and wheat. Corn futures were held back by prices being at the top end of the 7-week range and the slight improvement in corn’s condition rating yesterday by USDA. KC/Chicago wheat futures appear to be turning back down after the strong rally this month. Despite the apparent batch of Chinese soybean purchases this week, soybean futures couldn’t push past Monday’s highs and closed mid-range. Gains were limited by a failure for soybean meal to add to Monday’s strong rally and by President Trump’s criticism of China in his United Nations speech. Traders are talking about some signs of cold weather in the northern Corn Belt next week, but it’s too early to trade on it.
Cattle futures closed narrowly mixed, with feeder cattle outperforming LC today. Cattle were limited by weaker boxed beef values, a weaker stock market, and President Trump’s criticism of China’s trade policy. Choice slid 1.06 to 215.39 and Select dropped 1.18 to 189.66.
Lean Hog futures closed moderately higher, adding to Monday’s price gains. LH was supported by stronger pork values Monday and this morning. But this afternoon, FOB Plant Pork dropped .44 to 69.74 with wide variability in value changes in each primal.
US$ -.3% 98.32
Dow -142 26808
SP -25 2967
NAS -119 7994
Tran -49 10333
VIX +2.14 17.05
WTI -135 5729
Brent -167 6310
Gas -3 165
NG -2 250
HO -3 197
Eth unch 137
Gold +9 1540
Slvr -8 1863
2-yr -.041 1.628%
5-yr -.053 1.529%
10yr -.059 1.649%
30yr -.049 2.104%
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