Kirsten Rall updates the markets, current as of 8/16/19 at 2:00 p.m.
To end the week, the markets ending higher after losses that flooded both livestock and grain sectors early in the week. Nearby corn ending a dime higher. Soybeans $.09 higher across the contracts. A purchase of 296,500 metric tons of soybeans for ‘unknown destinations’ was reported by the USDA on Friday. Suggesting China is still purchasing soybeans. Wheat contracts followed suit higher on Friday’s session. All three nearby’s ranging $.01-$.04 higher.
Livestock at the Merc, ending the day lower. No surprise in hog futures as a sluggish tone was expected as we wrapped up the week in trade. Chinese buyers, according to the weekly export sales report, were said to have purchased 10,200 metric tones of US pork. This comes in the midst of China’s battle against African Swine Fever. Nearby live cattle ended $.27 lower at $99.92 in light trade. Nearby feeders, $1.20 lower ending at $134.57.