CBOT futures are trading mixed like most of Tuesday, with old-crop soybeans performing the best. Corn futures are down on ideas that near-term weather is going to help corn planting advance. Ethanol prices have been dropping this month as supply concerns wane.  Wheat futures are now weaker on lack of certainty on freeze damage and how good the rains forecast for KS/OK will be.   Of course, the Ukraine-Russia situation offers some risk premium.

Cattle futures are little changed but mostly on the weak side. Cattle continue to mark time looking for more direction from the cash markets.  Boxed beef at midday is up a mere 30 cents on Choice.

Lean Hog futures are also trading little changed after being lower in overnight trade.  The FOB Plant Pork cutout value came roaring back today with the midday quoted +2.38 at 124.11; rib and loin values are contributing to the gain.

Corn May -6 497; Jly -6 503; Dec -4 499 Bean may +14 1516; Jly +15 1503; Nov +5 1234 Meal May +2 489; Oct unch 386 Oil +77 4360 Wheat May -4 697; Jly -5 705 KC -4 768; MGE -6 741 Oats +1 400 Rice +4 1545

LC Apr +5 14532; Jun +5 13547; Oct +7 13752 FC Apr -2 17920; May -35 17942; Aug -5 18252 LH May +5 12155; Jun +32 12285; Oct -15 9875 Milk Apr +1 2412; May +42 2223

US$ unch Dow +.7% SP +.7% NAS +1% Tran +1% VIX 14.52  -7%

WTI -.4% Brent -.3% Gas +.2% NG -.2% HO +.7% Eth -5.5%

Gold unch Slvr +.6%

5-yr +.02 1.635% 10yr +.01 2.64% 30yr +.02 3.47%

Blue Grass Stockyards Cattle Report for 04/15/2014 Receipts:  1022   Last Tuesday:  891   Year Ago:  1567 Compared to Monday’s sale all classes sold steady with very good demand.  Quality was average through attractive.  Yearling steers and heifers limited comparison.  Slaughter cows and slaughter bulls sold steady with good demand. Total supply included 06% slaughter cows, 01% slaughter bulls, less than 01% replacements and 93% feeders.  Feeder supply 60% steers, 11% bulls, 29% heifers with 55% of feeders weighing Over 600 lbs.

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