Corn and soybean futures closed moderately higher, but around a nickel below the day’s highs, on traders’ concern for hot, dry weather in large parts of the Corn Belt. Both corn and soybeans opened Tuesday evening about steady, moved higher overnight and then accelerated upward when the market opened at 830 am CT.  However, the day’s highs were established around 930 am as profit-taking kicked in. Corn and soybean contracts traded outside yesterday’s wide ranges. Both are also trading above their key 200-day moving averages.  Weather forecasts will continue to drive futures’ direction.

Despite news of an atypical BSE diagnosis in an Alabama beef cow, cattle futures closed sharply higher today. Live Cattle opened near steady while Feeder Cattle opened $1-2 lower. But the market began its huge recovery rally around 10:00 am. As a result, yesterday’s losses were wiped out and markets closed near Monday’s closing prices. Futures were supported by short-covering and cattle trading between $118-118.50 at the online Fed Cattle Exchange. Boxed beef was weaker. Choice carcasses down 0.32 at 207.73; Select up 0.24 at 195.49. 

Lean Hog futures closed higher to varying levels with the nearby August LH contract closing up sharply.  Today’s strength was tied in part to spillover support from the cattle pit and by futures’ sharp discount to the CME Lean Hog Index.  While cash hog prices weakened, the pork cutout gained. FOB Plant Pork gained .70 to 104.69.  The midday quote was up 1.26.
 

Corn Sep +5 382; Dec +5 396 (388-402)

Bean Aug +10 1000; Nov +11 1012 (996-1017)
  Meal +3 327
  Oil +29 3346

Wheat Sep -1 503; Dec unch 527; Jly unch 562
  KC -2 500; MGE -5 775

Oats +1 293

Rice unch 1186
 

LC Aug +220 11727; Oct +200 11887; Feb +210 12032

FC Aug +290 15450; Oct +252 15295; Jan +247 14837

LH Aug +207 8257; Oct +92 6880; Dec +32 6295

Milk Jly -7 1553; Aug -10 1655

 

US$ +.1%

   All 3 major indexes closed at record highs.

Dow +66 21641

SP +13 2474

NAS +41 6385

Tran -57 9576

  VIX -.10 9.79

 

WTI +68 4727

Brent +81 4965

Gas +4 162

NG -2 307

HO +4 155

Eth unch 154

Gold -1 1241

Slvr unch 1622

 

2-yr +.008 1.360%

5-yr +.005 1.823%

10yr +.005 2.268%

30yr -.005 2.846%

 

Kentucky Producers Have Until Aug. 1, to Submit FSA County Committee Nominations

LEXINGTON, KENTUCKY, July 17, 2017 — The U.S. Department of Agriculture (USDA) Farm Service Agency (FSA) Acting Executive Director for Kentucky, Robert W. Finch, today reminded farmers and ranchers that they have until Aug. 1, 2017, to nominate eligible candidates to serve on local FSA county committees.

To be eligible to serve on an FSA county committee, a person must participate or cooperate in an agency administered program, and reside in the local administrative area where the election is being held. A complete list of eligibility requirements, more information and nomination forms are available at http://www.fsa.usda.gov/elections.

Kentucky Farm Bureau Minute video  - Click Here

KENTUCKY CASH GRAIN PRICES – Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here