Although the financial, energy and precious metal markets were all friendly today as the US dollar slid lower, CBOT grain and oilseed futures were mostly lower.  Not only was today the last day of the month, but a 3-day weekend encouraged profit-taking and risk reduction.

The corn and soybean markets are still set up with positive fundamentals and charts that have limited resistance just a little above the markets.  Several market analysts think it will take even higher prices to ration demand to fit the available supplies in 2012/13. Expect the CBOT to remain volatile.

Helped by firmer cash feedlot trade, Live Cattle futures managed small gains.  Even as the cash cattle market firmed, the boxed beef market continues to slide lower.  Choice Down 1.21 at 189.62; Select Down 0.57 at 179.46.  Feeder Cattle continue to trend higher off the lows set in late July.  The October FC contract moved to new highs, breaking chart resistance.

Next week, traders will assess storm damage to the U.S. crops.  Financial markets will focus on the European Central Bank’s announcement regarding buying Euro sovereign bonds.

U.S. markets are closed on Labor Day until the electronic exchanges open that evening.

Corn Sep -9 803; Dec -9 800 (793-810);  May -6.5 795;  Dec’13 -2 650

Bean Sep -6 1764.5; Nov -7 1756.5 (1745-1763);  May +10 1590; Nov’13 +3.5 1355

Wheat Sep -13.5 870; Dec -13.5 889.5; Jly unch 858 KC -9 881;  MGE -8 932

LC Oct +52 12602; Feb +10 13225; Apr -7 13590

FC Sep +130 14460; Nov +155 14780; Apr +90 15400

LH Oct +2 7417; Dec +60 7240; Feb +42 8032

Milk Sep -20 1891; Oct -37 1982

Oats +1 388.5

Rice -2 1501

US$ -.6%

Dow +90 13091

SP +7 1407

NAS +18 3067

Tran +14 5007

VIX -.36 17.47

WTI +194 9656

Brent +215 11480

Gas +3 311

NG +5.4 2280

HO +5 318

Eth -3.4 255

Gold +36 1691

Slvr +132 3169

2-yr -.035 0.222%

5-yr -.078 0.588%

10yr -.078 1.550%

30yr -.077 2.671%