Soybean futures closed lower and near the day’s lows as rain potential seems to be increasing for next week. Corn futures closed steady with a buying surge in the final minutes of trading. Corn benefited from wheat’s strong showing today.

Traders remain very positive on the cash cattle and beef markets this week. Choice 1-3 600-900 lbs carcasses up 1.52 at 262.86; Select 1-3 600-900 lbs carcasses up 1.80 at 260.83. In late-day trading, many of the Lean Hog contracts are locked limit down of $3.00. Pork values dropped 1.00 to 1.50 today. The bearish momentum is overwhelming the market. The August LH contract is several dollars below cash values. The spec funds appear to be lightening up on their long hog position.

Corn Sep unch 362; Dec unch 371 (367-74); Dec’15 unch 414 Bean Aug -6 1220; Sep -19 1102; Nov -14 1081 (1076-98); Nov’15 -9 1078 Meal Aug -8 388; Oct -6 351 Oil -20 3605

Wheat Sep +7 527; Dec +6 549; Jly +3 597 KC +5 617; MGE +2 613 Oats -3 353 Rice -16 1297

LC Aug +107 15985; Dec +77 15992; Apr +70 15855 FC Aug +160 22302; Oct +190 22402; Mar +110 21347 LH Aug -230 11915; Oct -237 10370; Feb -195 9015 Milk Aug -17 2145; Sep -6 2132

US$ +.2%

Dow -32 16880 SP unch 1970 NAS +20 4463 Tran +59 8277 VIX +.05 13.33

WTI -136 9961 Brent -166 10606 Gas -4 280 NG -4 378 HO -3 289 Eth -5 203 Gold -2 1296 Slvr +7 2065

2-yr +.012 0.559% 5-yr +.083 1.769% 10yr +.098 2.560% 30yr +.092 3.313%

KENTUCKY CASH GRAIN PRICES – Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

Subscribe to “Between the Rows” e-newsletter from the KFB Commodity Division by Clicking Here.