Market Closes - November 11, 2021
Posted on Nov 11, 2021Corn Dec unch 569 (566-79); Mar -1 578; Jly -1 583
Bean Jan +5 1221 (1212-28); Mar +4 1233; Jly +2 1250
Meal Dec +2 344 (342-46)
Oil unch 5914
Wheat Dec +9 812 (798-825); Jly +9 814
KC Dec +10 828; MGE +7 1053
Oats -15 725
Rice +17 1406
LC Dec -12 13187; Feb -42 13640; Apr -7 14025
FC Nov +67 15732; Jan +102 15907; Apr +77 16295
LH Dec -32 7537; Feb -25 7907; Apr -32 8382
Milk Dec +5 1808; Jan +13 1848
CBOT futures closed steady to higher with wheat futures leading the way up. KC and Chicago wheat charged higher, raising the contract highs; MGEX wheat is working on getting back to the November 2nd contract highs. Wheat’s strength is still based on the world’s tight supply situation and indications that Russia will restrict exports. Corn and soybeans were supported by the wheat market. The day’s highs were set around 9:40 a.m. CST. The nearby Chicago wheat contract has not been this high since December 2012 and Paris wheat futures hit 14-year highs. USDA’s weekly export sales report will be released Friday morning due to Veteran’s Day.
Live cattle futures closed slightly lower while feeders made gains across the board. Live Cattle have been mostly moving sideways lately waiting for the cash market to lead the way higher. The morning beef cutouts were weaker than they showed in the afternoon. Choice beef slipped .38 to 285.14 and Select rose .67 to 267.29. After heavy beef movement on Tues/Wed, today’s load count was a light 133. Cash fed trade
Lean hog futures closed lower after trading higher during the middle of the session. LH was supported by a strong pork market. FOB Plant Pork jumped 5.23 to 95.80 as loins rose 7.58 to 84.87 and hams soared 23.55 to 95.17. Belly value fell 12.37 to 143.82 and picnics dropped 6.83 to 67.75.
US$ +.3% 95.15
Dow -159 35921
SP +3 4649
NAS +82 15704
Tran +120 16708
VIX -1.07 17.66
WTI -6 8000
Brent -11 8253
Gas +1 231
NG +24 512
HO -2 244
Gold +16 1864
Slvr +58 2535
Treasury markets were closed for Veterans Day.
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