Monday, October 30, 2017 Tonight’s Futures Closes

[Pages:2]Tonight's Futures Closes:

Monday, October 30, 2017

Dec 17 Corn Mar 18 Corn May 18 Corn July 18 Corn Dec 18 Corn Dec 17 Oats Dec 17 Meal Dec 17 SB Oil Feb 17 Cattle Mar 18 Feeder Feb 17 Hogs

$3.4875 $3.6275 $3.715

$3.79 $3.945 $2.6325 $312.3 $34.68 127.450 154.125 71.050

unch +0.25 +0.25 +0.25 unch -2.0 +0.2 -0.16 +1.700 +1.125 +0.800

Nov 17 Soybeans Jan 18 Soybeans Mar 18 Soybeans May 18 Soybeans Nov 18 Soybeans Nov 17 Rapeseed

Dec 17 Cotton Mar 18 Cotton Dec 18 Cotton

Nov 17 Rice Jan 18 Rice

$9.7275 $9.845 $9.95 $10.04 $9.965 $506.9 $68.64 $68.58 $69.47 $1145.0 $1176.5

-2.5 -2.0 -1.75 -2.0 -0.75 -3.3 +0.44 +0.47 +0.50 -10.0 -8.0

Dec 17 CH Wheat July 18 CH Wheat Dec 17 KC Wheat July 18 KC Wheat Dec 17 MN Wheat Sep 18 MN Wheat Dec Dollar Index

Jan Crude Oil Dec Gold Dec S&P

Dec Dow Jones

$4.2475 $4.7075 $4.2175 $4.7225 $6.185 $6.3775 94.405 $54.36 $1282.0 2568.20 23308

-2.5 -3.25 -3.5 -2.5 +1.5 +4.75 -0.417 +0.27 +6.0 -10.20 -64

(Futures contracts highlighted in green were the bull leaders today; futures prices highlighted in red were the bear leaders today.)

Today was a boring start to the week as far as the row crop markets go. Soybeans tried to trade higher this morning, but eventually couldn't hold the 200-day moving average (light blue line) support at $9.75, the mark that's been either resistance or support for two months now. Even though we dipped below it, the uptrend channel (gray lines) still remains in tact. So as long as we continue to hold the bottom of the channel, I'm not thinking we'll see a drop in this market.

Soybean export loadings were again very strong last week at 92 million bushels. Expect that to continue for another few weeks until harvest comes to a halt, then expect corn loadings to pick up their share of the loadings.

Other crop markets were mixed, with corn trading both sides of unchanged, wheat trading lower (again) all day, but cotton recovering some of its end-of-the-week loss. The biggest mover of the day was the cattle market. Both live and feeder cattle posted big gains in the morning, though both gave some back, still finished stronger. The live cattle weekly chart (right) shows nearby futures topping the 100-week moving average and filling the gap left back in June. Can we really make a run at the $130-140 spring highs?

Here are some of the highlights of today's Crop Progress report:

Corn harvest 54% vs 72% avg (up 16% TW) Soybean harvest 83% vs 84% avg (up 13% TW) Cotton harvest 46% vs 45% avg (up 9% TW) Sorghum harvest 59% vs 69% avg (up 12% TW) Peanut harvest 74% vs 73% avg (up 11% TW) Sugarbeet harvest 87% vs 86% avg (up 13% TW) Sunflower harvest 53% vs 54% avg (up 23% TW) Winter Wheat planting 84% vs 87% avg

7-Day GFS Precipitation Forecast ? rain for dry areas of N & C Brazil

Tomorrow is the final day for setting harvest prices for many spring crops in many states. If prices were to stay unchanged tomorrow, most of these current averages would stay the same.

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