Market Closes - November 24, 2021
Posted on Nov 24, 2021Corn Dec -1 580 (575-89); Mar -3 585; Jly -3 590
Bean Jan -6 1266 (1263-81); Mar -7 1277; Jly -7 1292
Meal Dec -5 358 (356-64)
Oil +80 6094
Wheat Dec -19 837 (833-63); Jly -15 843
KC Dec -5 873; MGE -1 1037
Oats +3 750
Rice +4 1446
LC Dec +250 13790; Feb +145 14087; Apr +110 14390
FC Jan +255 16692; Mar +222 16790; May +147 17107
LH Dec +127 7542; Feb +97 8425; Apr +10 8805
Milk Dec unch 1833; Jan -13 1862
Friday Markets:
Grains 8:30 am – 12:05 pm CST; Livestock 8:30 am – 12:15 pm CST.
CBOT futures closed mostly lower and well below the day’s highs. Wheat was especially hit hard with the Chicago contracts posting bearish key reversals -- this puts the wheat bulls on notice. Wheat traded higher early overnight but softened into the opening of the day session; this was followed by a hard sell-off after 9:30 am CT. This big drop weighed on corn futures. Soybean futures dropped sharply during this time as well. Weakness in soybean meal has outweighed the strength in soybean oil. Weekly export sales will be reported by USDA on Friday.
Cattle futures moved strongly higher today and rising cash cattle prices. Fed cattle sellers have much to be thankful for this Thanksgiving. USDA reported negotiated cash trading as moderate with very good demand with cattle trading $140/cwt in TX and KS, and $139 in Nebraska. Some dressed sales averaged around $217/cwt compared to $210 last week. Choice beef gained .47 to 279.11 and Select rose .80 to 263.47. Beef movement was a light 129 loads. Nearby LC futures haven’t been this high since early 2017.
Lean hog futures closed higher in the first 3 contracts and lower in the deferreds. December LH closed higher on ideas the cash hog market may be bottoming. FOB Plant Pork edged up .06 to 84.98 with rib, ham and belly values down while loin, butt and picnic values rose. Pork movement was a strong 375 loads.
US$ +.4% 96.84
Dow -9 35805
SP +11 4702
NAS +70 15845
Tran -49 16826
VIX -.75 18.63
WTI -15 7835
Brent -13 8218
Gas -2 232
NG +6 502
HO -1 238
Eth unch 221
Gold +6 1789
Slvr +13 2356
2-yr +.036 0.644%
5-yr +.013 1.347%
10yr -.022 1.643%
30yr -.056 1.967%
“Across Kentucky” podcast - Click Here
KENTUCKY CASH GRAIN PRICES – Click Here
KENTUCKY LIVESTOCK AUCTIONS -- Click Here
Comments