Market Closes – April 10, 2014

CBOT futures traded wide ranges with mostly negative closing prices. However, the early losses were greatly reduced as the market rallied the last couple hours of trade.  Old crop soybeans lagged the rally due to concerns that some export sales to China may get cancelled.

Cattle futures closed mostly lower as boxed beef values continue dropping. Fed cattle trade has yet to develop. Choice carcasses down 0.46 at 225.00; Select carcasses down 0.93 at 214.30/cwt.

Lean Hog futures closed lower and fell more (about 80 cents) after the pits closed due to confirmation of much weaker pork values and sharp cash hog losses in the western Corn Belt.  FOB Plant Pork cutout dropped 2.48 to $124.47/cwt.

Corn May -1 501; Jly -1 507; Dec unch 505 (498-507)
Bean May -13 1482; Jly -13 1465; Nov -2 1225 (1215-27)
Meal May -3 479; Oct +2 386
Oil -41 4250
Wheat May -7 662; Jly -7 670 (664-78)
KC Jly -11 729; MGE -12 708
Oats -19 405
Rice +13 1563

LC Apr +25 14400; Jun -42 13520; Oct -25 13802
FC Apr -60 17827; May -55 17967; Aug +7 18192
LH Apr +15 12517; Jun -60 12115; Oct -115 9875
Milk Apr -3 2395; May -24 2121

US$ -.1%

Dow -267 16170
SP -39 1833
NAS -130 4054
Tran -160 7431
VIX +2.07 15.89  +15%

WTI -20 10340
Brent -57 10741
Gas unch 301
NG +5 463
HO -2 294
Eth +12 240

Gold +12 1318
Slvr +26 2003

2-yr -.01 0.355%
5-yr -.045 1.59%
10yr -.04 2.65%
30yr -.05 3.515%

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