Closing prices were mixed but not much different than those quoted at midday.  Soybean futures will probably hold up at least into the June 11 USDA WASDE report with an updated 2013/14 carryout forecast.  With favorable weather for growing corn/soybeans, the old-crop soybean situation is the main factor supporting prices. If and when the large funds start taking money out of corn and soybeans, that’s when prices will head lower.  The 6-10 day outlook shows above normal rainfall from the northern Rockies to the East Coast; Kentucky is part of the area with the highest chance of Above Normal rain.   See map here.

Although boxed beef lost value today, gains made the last few days have given traders confidence that beef demand warrants steady to better cash prices.  The June LC contract remains at a discount to the latest trade. Choice Beef closed down .66 to 233.65/cwt.

Lean Hog futures closed narrowly mixed when the pit closed but continued higher in afternoon e-trade. Pork weakness weighed on the nearby June LH contract. FOB Plant Pork closed down 1.50 to 113.75/cwt with weakness across all primal parts.

Treasury yields bottomed mid-morning and rose the rest of the day to end at levels last seen yesterday morning. As yields firmed, so did the stock market. The SP500 Index set a new record HIGH.

Corn Jly -3 469; Dec -6 463 (462-70) Bean Jly +1 1499; Sep +2 1296; Nov +1 1244 (1241-52) Meal Jly unch 498; Oct +1 408 Oil -22 3941 Wheat Jly -6 632 (630-45); Dec -6 664 KC -5 730; MGE -3 714 Oats +12 361 Rice -2 1502

LC Jun +187 13802; Oct +162 14295; Feb +90 14765 FC Aug +147 19705 (hi 19777); Oct +175 19840 LH Jun -25 11430; Aug +12 12490; Dec -35 9465 Milk Jun -33 2070; Jly -33 2024

US$ -.1%

Dow +66 16699 SP +10 1920 NAS +23 4248 Tran +34 8110 VIX -.11 11.57

WTI +81 10353

Brent +27 11008

Gas +1 299

NG -3 459

HO -1 292

Eth +3 238

Gold -5 1254

Slvr -3 1903

2-yr +.012 0.379% 5-yr +.06 1.53% 10yr +.03 2.47% 30yr +.04 3.33%

KENTUCKY CASH GRAIN PRICES – Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

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