Market Update - June 25, 2014

Posted on Jun 25, 2014
CBOT futures are trading mixed with minimal price changes at this time. Soybeans traded higher overnight before backing off. Corn and wheat futures popped this morning before setting back. Weather is mixed with some areas having flood damage and delays to planting or double-cropping – while other areas benefit long-term from added moisture. Traders will increasingly adjust positions for Monday morning’s Grain Stocks and Acreage reports.

Cattle futures are higher, especially in Feeder Cattle, but nearly a dollar off the day’s highs (also Contract Highs) which came early this morning. Unless boxed beef keeps rising, the upside in LC futures could be limited in the short run with the Hogs & Pigs report coming Friday. Choice beef is up 1.90 to 245.56/cwt today; Select is steady.

Lean Hog futures are lower with sharp losses in the deferred contracts. Traders are banking profits ahead of Friday’s Hogs & Pigs report that could cause a sharp price move if the data surprise. FOB Plant Pork is up 2.51 to 134.04/cwt this morning.

Corn Jly -2 440; Dec -1 440 (438-41) Bean Jly +2 1415; Nov +2 1227 (1223-34) Meal Jly +2 450; Oct +2 391 Oil -18 4079 Wheat Jly +3 574 (568-75); Dec +2 605 KC +7 713; MGE -1 675 Oats -1 339 Rice -2 1477

LC Jun +55 15170; Oct +67 15345; Feb +12 15435 FC Aug +150 21212 (low 21040); Oct +140 21375; Mar +127 20677 LH Jly -37 13005 (low 12800); Oct -220 10957; Dec -200 9590 Milk Jun -4 2131; Jly -20 2175

US$ -.2% Dow +.1% SP +.2% NAS +.2% Tran +.4% VIX -2.6% 11.81

WTI +.1% Brent -.7% Gas -1.1% NG +.5% HO -.7% Eth +.3% Gold +.2% Slvr +.3%

5-yr -.04 1.635% 10yr -.045 2.54% 30yr -.04 3.37%

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Tagged Post Topics Include: Economics, Market updates