CBOT futures edged higher overnight but sold off soon as the 830 am electronic trading opened. CBOT futures are narrowly lower, pressured by the old-crop soybean contracts. The August Soybean Meal contract is getting squeezed today with a jump of $33 to $433/ton. August soy complex contracts expire at Noon tomorrow.

CBOT pressure continues from Tuesday’s USDA reports as well as a declining crude oil market & stronger US dollar.

Cattle futures continue to lose value as the bearish momentum is sustained on news of fed cattle selling for $155/cwt, down $3-5 from last week. August Live Cattle traded down to early-July chart support and have rebounded some.

Lean Hog futures are trading higher, erasing a small part of Tuesday’s big losses. Need to see some stability in the Pork cutout. August Live Hog futures expire tomorrow.

Corn Sep -2 357; Dec -1 368 Bean Sep -9 1085; Nov -9 1051 Meal Sep +5 370; Dec -1 343 Oil -48 3416 Wheat Sep -4 534; Jly -2 590 KC -5 608; MGE -3 605 Oats +9 368 Rice +1 1266

LC Aug -200 14762; Oct -190 14577; Feb -100 15007 FC Aug -105 21350; Oct -175 21195; Mar -105 20445 LH Aug +77 11485; Oct +2 9720; Feb unch 8725 Milk Aug -3 2199; Sep -2 2204

US$ +.1%

Dow +.7% SP +.7% NAS +1% Tran +.9% VIX -7.6% 13.05

WTI -.1% Brent -.3% Gas -.5% NG -.7% HO unch Eth unch Gold unch Slvr +.4%

5-yr -.025 1.590% 10yr -.016 2.426% 30yr -.010 3.257%

Today’s CME Daily Livestock Report highlights a key factor leading to the sharp drop in the pork cutout the past week.  Ham prices had risen on Russian demand but with the new 1-year ban on U.S. ag products, the market has dropped dramatically. Read DLR newsletter here.

KENTUCKY CASH GRAIN PRICES – Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

Subscribe to “Between the Rows” e-newsletter from the KFB Commodity Division by Clicking Here.