CBOT futures soared higher by the close today, putting last Friday’s Crop Report to the wayside. Very early day weakness gave way to sustained buying after 830 am CT. Soybean futures lead the market higher on strong export inspections reported a day later than usual due to Monday’s holiday. Also, a report of heavy Chinese soybean imports in September gave traders confidence to buy. The soybean rally was extended on technical buying as overhead 50-day moving average resistance was exceeded. Wheat futures tagged along with corn/soy but also had support from dryness in the Plains and Australia.

As of October 11, 2015 Corn Harvested 42% this week vs 23% year ago and 43% for 2010-14 average.

Soybeans Harvested 62% this week vs 37% year ago and 54% for 2010-14 average.

Winter Wheat Planted 64% this week vs 66% year ago and 66% for 2010-14 average.

Pasture Conditions 43% good/excellent vs 23% poor/v.poor

Except for the nearby October contracts, cattle futures closed lower, albeit by small amounts. Loss were limited by a very strong boxed beef market that’s catching up to last week’s gains in futures and cash steer price. Choice Beef jumped 3.16 to 208.46 and Select Beef soared 4.22 to 203.34. USDA reported “good demand and moderate to heavy offerings.”

Lean Hog futures closed higher with October LH making a new high for this move off the August lows (nearly $13/cwt below). October LH has its last trading day on Oct 14; then December LH will be the nearby and it is more than $7.00/cwt discount to the October LH. FOB Plant Pork fell .55 to 88.92 with weaker values for butt, ham and belly cuts.

Corn Dec +4 384; Jly +4 407; Dec16 +3 410 Bean Nov +26 914; Jly +25 931; Nov16 +20 915 Meal Dec +8 318 Oil +61 2879 Wheat Dec +12 519; JLy +12 535 KC +13 511; MGE +8 536 Oats +3 232 Rice -29 1259

LC Oct +50 13242; Feb -27 13947; Apr -27 13900 FC Oct +32 18970; Jan -7 18100; Apr -5 17925 LH Oct +55 7485; Dec +107 6757; Feb +35 6972 Milk Oct -8 1572; Nov -12 1577 US$ -.1% Dow -50 17082 SP -14 2004 NAS -42 4797 Tran -183 8078 VIX +1.50 17.67

WTI -53 4708 Brent -62 4963 Gas -3 131 NG -4 250 HO -3 148 Eth +2 154 Gold +1 1166 Slvr +4 1590

2-yr -.024 0.621% 5-yr -.053 1.355% 10yr -.055 2.044% 30yr -.042 2.886%

Kentucky Weekly Livestock Summary for the week of Oct 5-10 2015. This Week Last Week Last Year 16,081 17,028 27,358 Compared to last week, trends were a bit mixed. Steer calves began the week 6.00 to 10.00 lower and finishing 3.00 to 5.00 higher. Heifer calves moved from 5.00 to 8.00 lower to 4.00 to 6.00 higher. Local markets were reacting to CME futures which closed higher for the first time in a few weeks. Demand was light to moderate for an average to good quality offering. Yearlings were lightly tested. Slaughter cows and bulls sold mostly 2.00 to 5.00 lower as boxed beef prices continue to decline.