CBOT futures closed mixed with wheat futures continuing to lead the way down. Wheat futures in the past 3 trading days have lost over half of the May rally. Corn also came under pressure and futures are now testing the contract lows set October 1, 2014. Soybean futures managed small gains thanks to the strong soybean meal market (labor issues in Argentina could help the U.S. short-term). However, July Soybeans broke the October lows just last Friday; November Soybeans broke the October contract low on the 19th. The large funds are short these commodities and sold more corn and wheat today. Traders believe the crops could be huge given current conditions. El Nino is expected to persist through the summer.

Cattle futures closed moderately higher today but near the day’s highs after making some wide trading ranges. Feeder futures pushed to new highs last seen in early January. The June LC contract is about $7/cwt discount to last week’s average cash price of $159.92/cwt. Boxed beef was steady to firm with Choice carcasses up 0.04 at 261.11; Select up 0.68 at 249.88.

Lean Hog futures closed mixed with the more nearby contract moving higher on Tuesday’s cash market strength and some follow-through today. FOB Plant Pork closed up .61 at 87.28.

Important Crop Insurance Deadline Near for Kentucky Producers       Producers Need to Certify Conservation Compliance by June 1 Click Here for News Release

EPA Released its Final WOTUS Rule Read AFBF Statement here

Corn Jly -5 349; Dec -6 367 (366-74) Bean Jly +4 927; Nov +2 906 (902-11) Meal Jly +6 308; Oct +4 297 Oil -41 3173 Wheat Jly -6 488 (482-96); Dec -9 507 KC -12 512; MGE -7 546 Oats -2 236 Rice +1 943

LC Jun +67 15247; Oct +72 15332; Feb +55 15472 FC Aug +182 22142; Oct +142 21895; Jan +95 21160 LH Jun +60 8377; Oct -15 7367; Dec -27 6980 Milk Jun +15 1653; Jly +27 1687

US$ steady Dow +121 18163 SP +19 2123 NAS +74 5107 Tran +94 8444 VIX -.79 13.27

WTI -43 5760 Brent 146 6226 Gas -4 196 NG unch 282 HO -4 186 Eth -3 153 Gold unch 1187 Slvr -7 1667

2-yr +.031 0.648% 5-yr +.007 1.529% 10yr -.005 2.130% 30yr -.022 2.868%

KENTUCKY CASH GRAIN PRICES – Click Here

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