Market Update - July 16, 2014

Posted on Jul 16, 2014
Corn and soybean futures are trading higher this morning on follow-through buying that developed on Tuesday. Some export sales announcements at 830 am CT caused a sharp price pop that disappeared as quick as it appeared. Still it appears there’s some short-covering occurring amid the “oversold” technical conditions.

Cattle futures are down sharply as traders view cash cattle and boxed beef values weakening in the short run.

Lean Hog futures are lower but the nearby August is holding up well with midday Pork values up 1.19 to a record 136.37/cwt.

Corn Sep +4 378; Dec +5 386 Bean Aug +6 1187; Sep +12 1116; Nov +9 1096 Meal Aug +3 382; Oct +6 355 Oil -6 3684 Wheat Sep +1 539; Dec +2 563 KC -1 638; MGE unch 630 Oats +3 337 Rice +8 1295

LC Aug -117 14740; Dec -87 15162 FC Aug -230 20922; Oct -215 20962; Mar -210 20245 LH Aug -15 13057; Dec -110 10360 Milk Jly -2 2144; Aug +14 2116

 

US$ +.2% Dow +.4% SP +.4% NAS +.4% Tran +.3% VIX -5% 11.33

WTI +1.1% Brent steady Gas -.4% NG +.7% HO steady Eth -.1% Gold +.4% Slvr -.3%

5-yr +.016 1.707% 10yr -.009 2.541% 30yr -.016 3.350%

KENTUCKY CASH GRAIN PRICES Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

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Tagged Post Topics Include: Economics, Market updates