Corn Sep +9 609 (601-23); Dec +11 596 (586-609)

Bean Aug +39 1485 (1449-97); Nov +43 1365 (1325-73)

 Meal Aug +8 423 (415-29); Dec +12 392

  Oil Aug +306 6162; Dec +295 5959

Wheat Sep +32 836 (808-46); Dec +30 852

  KC Sep +38 889; MGE +53 940

Oats Sep +4 466

Rice Sep +20 1638

 

LC Aug +5 13455; Oct -10 13985; Dec +12 14547

FC Aug -82 17247; Oct -105 17932; Jan -92 18185

LH Jly +10 11325; Oct +175 9397; Dec +115 8527

Milk Jly +27 2266; Aug +37 2181; Sep +66 2220

CBOT futures closed higher to sharply higher on short-covering and bargain buying following Tuesday’s sharp selloff. Stronger energy and equity markets were supportive as well. Ideas that the weather will be drier later in July and in August encouraged the buyers. Corn futures ended low-range and well off the day’s highs which managed to close the down-gaps charted Tuesday. Soybean futures closed around 3 percent higher, supported by both meal and soy oil. Soy contracts ended near the day’s highs. Wheat futures rallied even more – around 4 percent.

Cattle futures closed mixed with live cattle slightly higher and feeder futures down nearly a dollar/cwt. The corn price rally weighed on FC. Choice beef rose .02 to 268.07 and Select slipped .35 at 242.58. Beef movement was good at 125 loads. Negotiated trade was reported steady to $2.00 lower. Live prices vary widely from Texas @ $137/cwt to Nebraska @ $144-149/cwt. Dressed prices averaged $232/cwt.

Lean hog futures closed higher with the best gains in the Oct/Dec/Feb contracts. FOB Plant Pork edged .69 higher to 112.19. Belly value rose 9 to 156 and rib value fell 8 to 174. Pork movement was a strong 287 loads. Weekly export sales will be reported tomorrow due to the July 4^th holiday.

US$ unch 107.06

Dow +347 31385

SP +58 3903

NAS +259 11621

Tran +258 13468

  VIX -.65 26.08

 

WTI +420 10273

Brent +396 10465

Gas +18 342

NG +79 630

HO +26 367

Gold +3 1740

Slvr +3 1919

 

2-yr +.063 3.024%

5-yr +.090 3.039%

10yr +.089 3.000%

30yr +.070 3.188%

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