Soybean and soybean meal futures have closed higher for 6 straight trading days. Soybeans closed about 40 cents above the lows and March Soybean Meal over $28.00 (10 percent) above the $310 low. With soybean oil down 3 percent over the same time period, you see that the soybean rally is due to the strength in soybean meal. Traders often say that Oats futures lead the market. March Oats began to rally on January 2 and are up 10 percent off its “double-bottom” low. Oats have now recovered 50 percent of the November-December decline of 49 cents. The spec funds still have huge short positions in corn, wheat and soybeans, so there is fuel for a rally; however, actual supplies remain plentiful. Traders have a watchful eye on South American weather.
 

Live cattle futures closed moderately higher, supported by a surge in cash cattle prices on Friday afternoon to a reported $123/cwt. Today’s blizzard in western Kansas and Nebraska was also supportive. However, boxed beef values continue to weigh on the market. Choice 1-3 600-900 lbs carcasses up 0.21 at 205.07; Select 1-3 600-900 lbs carcasses dn 0.64 at 199.52
 

Lean Hog futures closed slightly lower but at/near the day’s lows. Futures are at their lowest level since the market peaked last Tuesday.  Losses were limited by stronger pork values. FOB Plant Pork closed up .73 at 82.17 on strength in picnics and bellies.

Congress ends government shutdown; sends bill to President to sign.

     MSU Soybean Promotion Day
Tomorrow, Jan. 23 @ 3:15 pm CST
CFSB Center, Murray State University
`  For more info, Click HERE.

Corn Mar unch 352 (351-54); Jly unch 369; Dec unch 386

Bean Mar +7 984 (980-87); Jly +7 1006; Nov +4 1000

  Meal +7 339

  Oil -12 3216

Wheat Mar +3 426; Jly +3 452 (449-53)

  KC +1 428; MGE -1 607

Oats +7 265

Rice -2 1218

 

LC Feb +165 12355; Apr +125 12397; Jun +82 11555

FC Jan -5 14790; Apr +40 14647; Aug +55 14872

LH Feb -27 7180; Apr -37 7512; Jun -22 8462

Milk Jan +2 1390; Feb +1 1357

 

US$ -.3% 90.38

  Stock indexes closed at Record Highs.

Dow +143 26215

SP +23 2833

NAS +72 7408

Tran +52 11358

  VIX -.24  11.03

 

WTI +29 6366

Brent +70 6931

Gas +2 189

NG +6 325

HO unch 206

Eth -1 132

Gold unch 1333

Slvr -3 1700

 

2-yr +.008 2.069%

   Hit highest yield since 2008.

5-yr +.017 2.453%

10yr +.017 2.656%

   Hit highest yield since 2014.

30yr +.005 2.917%

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES – Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here