Market Update - April 29, 2014

Posted on Apr 29, 2014
CBOT futures are higher across the board with corn and soy prices rising overnight and continuing the gains this morning.  Wheat futures traded sideways but joined the rally when pit trading opened at 930 am CT.  The main support factor is probably the slow 19% corn planted figure released yesterday afternoon.  Ongoing wetness and cooler than normal temperatures won’t help the corn crop.  KC and MGEX continue to gain on CBOT wheat.

Cattle futures are trading slightly lower after making gains Monday.  Choice Beef is up 1.28 at midday.

Lean Hog futures are slightly higher except for the nearby May LH contract. The Pork cutout is down 1.40.

Corn May +6 514; Jly +6 519; Dec +4 511 (507-12) Bean may +10 1518; Jly +11 1511; Nov +6 1245 (1236-46) Meal May +3 500; Oct +2 395 Oil +20 4282 Wheat May +5 705; Jly +5 714 KC +10 797; MGE +8 762 Oats -1 421 Rice +12 1557

LC Apr -15 14525; Jun -2 13680; Oct -45 14010 FC May -52 18057; Aug +15 18650; Oct -17 18672 LH May -85 12012; Jun +35 12457; Oct +75 10295 Milk May -9 2248; Jun +6 2071

US$ +.2%

Dow +.5%

SP +.4%

NAS +.5%

Tran +.2%

VIX -1.8% 13.72

WTI +.8%

Brent +1.1%

Gas +.9%

NG +3.2%

HO +.9%

Eth +1%

Gold unch

Slvr -.6%

5-yr +.01 1.74%

10yr +.03 2.70%

30yr +.04 3.50%

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Tagged Post Topics Include: Economics, Market updates