Market Update - April 24, 2014

Posted on Apr 24, 2014
Wheat futures are leading the CBOT higher as the southern Plains doesn’t look to receive “saving” rains anytime soon and the Ukraine situation is looking more tense which could interrupt exports/production from that region.  Corn continues its rally on weather forecasts less favorable for getting corn planted.

Cattle futures are mostly higher as yesterday’s boxed beef gains provide support.  Lean hogs are trading lower, correcting part of yesterday’s big gains as the pork cutout weakened later in the day.

Corn May +4 507; Jly +3 513; Dec +4 508 Bean May +1 1470; Jly +4 1468; Nov unch 1227 Meal may +2 480; Oct +1 387 Oil -7 4243 Wheat May +18 694; Jly +19 701 KC +19 746; MGE +20 771 Oats unch 409 Rice +4 1528

LC Apr unch 14392; Jun +30 13540; Oct +2 13865 FC May +80 17942; Aug +102 18347; Oct +62 18340 LH May -155 12242; Jun -57 12567; Oct -20 10215 Milk May +13 2254; Jun +18 2051

US$ -.1%

Dow steady SP +.2% NAS +.6% Tran -.3% VIX +1.5% 13.47

WTI +.5% Brent +.7% Gas -.1% NG -.3% HO +.8% Eth -1.2%

Gold +.3% Slvr +1%

5-yr +.035 1.75% 10yr +.01 2.70% 30yr +.01 3.48%

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Tagged Post Topics Include: Economics, Market updates