CBOT futures closed uncharacteristically steady today; even the trading ranges were narrower than usual and traded INSIDE Monday’s price ranges.  CBOT futures enjoyed a day free of significant Fund selling according to market reports.  The markets are still flirting with breaking down through key technical support.

  Market reports are noting today that farmers are leaning toward storing soybeans over corn that may have quality problems (including aflatoxin).  See stories at the end of this message about KY corn. 

  Cattle futures closed higher on rising boxed beef values, optimism for stronger cash prices at the feedlot, and from recent weakness in corn futures. Choice UP $1.14 and Select UP $1.66/cwt. Beef packers reportedly are still operating in the red, so they will resist paying more.

  Lean Hog futures closed mixed with little change, following similar action in cash hogs and the pork cutout value.

 Corn Dec +1 738; Mar +1 738; Dec’13 -3 623

Bean Nov +1 1494; Mar +3 1469; Nov’13 +3.5   Meal Dec -3 453; May unch 417   Oil +46 5047

Wheat Dec -.5 848; Jly unch 833   KC +1.5 883; MGE +3.5 924

LC Oct +140 12555; Feb +55 13042; Apr +52 13392

FC Oct +175 14610; Nov +217 14772; Apr +160 15310

LH Dec +5 7860; Feb -15 8442; Jun -7 9995

Milk Oct -11 2105; Nov -73 2024

Oats +4.5 392

Rice -14 1487

 US$ -.5%

Dow +127 13552

SP +15 1455

NAS +37 3101

Tran +53 5119

VIX -.05 15.22

WTI +19 9204

Brent -73 11507

Gas -2 283

NG -5 344

HO -2.5 318.4

Eth -.4 236.5

Gold +12 1750

Slvr +24 3298

2-yr +.008 0.270% 5-yr +.031 0.694% 10yr +.054 1.722% 30yr +.070 2.918%

2 stories from UK on KY’s approval to mix some corn with aflatoxin. http://news.ca.uky.edu/article/livestock-producers-should-be-aware-aflatoxin-corn-grain-silage

http://news.ca.uky.edu/article/kentucky-receives-waiver-mix-aflatoxin-contaminated-corn

Kentucky Pest News Today’s issue available online at: http://www.uky.edu/KPN