Market Closes – July 30, 2014

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%

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