Market Closes – March 30, 2016

CBOT futures closed lower to sharply lower (wheat, corn) as traders locked in profits ahead of tomorrow’s key USDA reports. Futures headed lower when trade opened at 830 am and just kept dropping and finished near the day’s lows. Also pressuring wheat futures was the extended forecast for rain in the southern Plains. A big jump in ethanol inventories weighed on corn futures.

Livestock futures fell off the ledge after 9 am this morning and closed sharply lower. Appears the weakness in boxed beef markets caused traders with long positions to give up. Then big losses triggered additional selling on technical considerations. Choice 1-3 600-900 lbs carcasses dn 3.19 at 221.87; Select 1-3 600-900 lbs carcasses dn 4.16 at 212.68

Lean Hog futures closed much lower even as the pork market strengthened. FOB Plant Pork closed up 1.27 at 77.59, which is higher than 76.84 at midday. Hogs were pressured by the huge losses in the cattle market.

Corn May -6 367; Jly -6 371; Dec -5 384
Bean May -7 909; Jly -6 916; Nov -5 923
Meal -1 272
Oil -26 3379
Wheat May -13 464; Jly -12 471
KC -16 466; MGE -7 515
Oats -4 185
Rice -3 1003

LC Apr -250 13235; Jun -245 12307; Oct -222 11850
FC Apr -350 15257; Aug -412 15057; Oct -395 14730
LH Apr -132 6892; Jun -137 8155; Oct -100 6927
Milk Apr -7 1373; May +11 1382

 

US$ -.4%
Dow +84 17717
SP +9 2064
NAS +23 4869
Tran +14 7965
VIX -.26 13.56

WTI +1 3829
Brent +8 3922
Gas -2 143
NG +5 190
HO +1 116
Eth +1 146
Gold -11 1225
Slvr -1 1522

2-yr -.035 0.761%
5-yr -.017 1.261%
10yr +.014 1.826%
30yr +.046 2.657%

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