Market Closes - March 14, 2019
Posted on Mar 14, 2019Corn May +4 370; Dec +2 394 (391-96)
Bean May -2 898; Nov -3 933 (930-40)
Meal +1 306
Oil -36 2957
Wheat May +5 453; Jly +4 460 (454-67)
KC unch 436; MGE +2 552
Oats +4 273
Rice -7 1075
LC Apr +72 12740; Jun +102 12035; Aug +82 11645
FC Mar -45 14110; May +27 14635; Aug +57 15202
LH Apr +232 6580; Jun +270 8352; Aug +202 8675
Milk Apr +12 1507; May +13 1532
CBOT futures closed mixed with gains probably attributable to short-covering by the very short spec funds. Corn, beans and wheat rallied during the first 2 hours of trading this morning and then worked lower into the close. Chicago Wheat posted the best gains, but also dropped the most off the day’s highs. China trade news was on the negative side with President Trump indicating no rush to make a deal. As days pass, the wet weather and potential planting delays will get more talk/concern.
Cattle futures closed higher with better gains in the LC market. Futures were supported by the sharp gains in LH futures and by this week’s blizzard adding to unfavorable feedlot conditions. The April LC is in line with today’s light cash trade at $127/cwt. Choice fell .54 to 227.70 and Select fell .52 to 218.76.
Lean Hog futures closed sharply higher, supported by stronger cash hog and pork values, as well as this morning’s very large pork export sales estimate. The key will be if China keeps up its latest purchase pace. FOB Plant Pork gained .95 to 68.80 with loins up 3+ percent, hams up 2+ percent; ribs fell 2 percent.
US$ +.3% 96.76
Dow +7 25710
SP -2 2808
NAS -12 7631
Tran -22 10346
VIX +.09 13.50
WTI +32 5891
Brent -32 6723
Gas -1 185
NG +3 285
HO -1 198
Eth +2 135
Gold -14 1295
Slvr -28 1517
2-yr +.012 2.465%
5-yr +.016 2.430%
10yr +.018 2.628%
30yr +.034 3.044%
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