Corn Mar +4 389 (385-89); Jly +3 403; Dec +2 405

Bean Mar -4 942 (938-49); Jly -4 967; Nov -5 970

  Meal unch 304

   Oil -40 3395

Wheat Mar -2 562; Jly -1 567 (562-69)

  KC -2 493; MGE -3 555

Oats +2 311

Rice -10 1322

 

LC Feb -87 12655; Jun -27 11950; Aug -17 11710

FC Jan -157 14602; Apr -125 14880; Aug -77 15552

LH Feb -135 6590; May -100 7972; Jun -70 8547

MILK Jan -4 1699; Feb -8 1690

CBOT futures closed mixed today. Corn closed higher and near the day’s highs in follow-through buying to Friday’s strong market. Futures are within 0-2 cents of the highs set around January 1^st. Soybeans closed slightly lower, pressured by weaker soybean oil futures and favorable weather in South America. Wheat futures ended lower on corrective selling after wheat pushed on Friday to new highs not seen since July.  New-crop July Chicago and KC Wheat contracts are over 90 cents above the lows set around September 1. Wheat has been supported by low U.S. wheat seedings and unfavorable weather around the world. U.S. winter wheat acreage is the lowest since 1909 and U.S. ending wheat stocks are at a 5-year low.

Both grain and livestock traders are eager to see the Phase I trade deal that the US and China will sign on Wednesday. It will still take actual Chinese purchases to support these markets.

Cattle futures closed lower on last week’s disappointing cash steer trade at steady prices around $124/cwt. The February LC contract remains at a premium to cash. LC and FC futures remain close to the contract highs. Choice edged up .51 to 210.55 and Select rose 1.68 to 208.23; the CH/Sel spread is only $2.32/cwt.

Lean Hog futures closed moderately lower and near chart support. LH was pressured by its premium to the cash market which has weakened under plentiful supplies and a lack of major Chinese buying. Pork values did post strong gains today. FOB Plant Pork jumped 1.74 to 74.24 on a 9% rise in belly value and loin value rising 2.5%. Ham and rib values fell.

US$ steady

Dow +83 28907

SP +23 3288

NAS +95 9274

Tran +89 11063

  VIX -.24 12.32

 

WTI -91 5808

Brent -74 6424

Gas unch 166

NG -1 219

HO -3 190

Eth +2 136

Gold -12 1548

Slvr -13 1797

 

2-yr +.014 1.586%

5-yr +.014 1.650%

10yr +.019 1.846%

30yr +.017 2.302%

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