Market Closes - June 29, 2021
Posted on Jun 29, 2021Corn Jly +19 694 (668-700); Sep +1 559; Dec +1 548 (541-59)
Bean Jly +3 1360 (1348-72); Aug +3 1340; Nov unch 1312 (1298-1327)
Meal Jly -3 348 (344-54); Dec -5 354
Oil Jly +184 6415; Dec +126 6129
Wheat Jly -6 640 (638-58); Dec -5 653; Jly22 -1 661
KC Jly +1 619; MGE -22 820
Oats -8 377
Rice +9 1325
LC Jun +45 12255; Oct +22 12775; Dec -15 13177
FC Aug +105 15740; Oct +52 16157; Jan -15 16237
LH Jly +202 10697; Oct +35 8775; Dec +32 8032
Milk Jly +20 1698; Aug +37 1719
CBOT futures closed widely mixed with corn and soy complex futures ending at mid-range. Wheat futures settled mostly lower and closer to the day’s lows. Traders were focused on preparing for tomorrow’s USDA reports. When that’s past us, attention will be on next weather forecast. MGE spring wheat futures made a new contract high and reversed sharply lower to post a bearish key reversal on the charts.
Tomorrow at NOON EDT, USDA will release its Acreage (CLICK HERE) and Grain Stocks (CLICK HERE) reports. Some average trade expectations include:
Planted Corn Acres = 93.8 million vs Intentions @ 91.1 million
June 1 Corn Stocks = 4.14 billion bushels
Planted Soybean Acres = 89.0 million vs Intentions @ 87.6 million
June 1 Soybean Stocks = 787 million bushels
June 1 Wheat Stocks = 859 million bushels
Cattle futures closed mostly narrowly mixed with the August FC contract settling up 1.05. June Live Cattle ends trading tomorrow and are around $3.00/cwt discount to recent live prices. Boxed beef values keep sliding, but packers still have huge margins. Choice beef fell 5.09 to 292.34 and Select slid 3.56 to 270.40 with heavy movement of 157 loads. Negotiated cash trade was inactive.
Lean hog futures closed higher with nearby July LH popping $2.02/cwt, supported by further short-covering after Monday’s $3.00 limit up move. A strong morning pork market added to the momentum. FOB Plant Pork was down .91 at 114.22 after being up 3.41 in the morning report. Ham and belly values dropped around $5/cwt.
US$ +.2% 92.08
Dow +9 34292
SP +1 4292
NAS +28 14528
Tran +20 14855
VIX +.35 16.10
WTI +52 7272
Brent +54 7468
Gas +2 224
NG +6 366
HO +1 213
Eth unch 240
Gold -19 1762
Slvr -32 2389
2-yr -.004 0.252%
5-yr -.001 0.893%
10yr -.002 1.476%
30yr -.006 2.092%
“Across Kentucky” podcast - Click Here
KENTUCKY CASH GRAIN PRICES – Click Here
KENTUCKY LIVESTOCK AUCTIONS -- Click Here
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