CBOT futures are trading mixed and most contracts have traded both sides of unchanged. Corn and soybean futures have not changed much since last Wednesday’s closes which were sharply lower due to the bearish USDA reports. Traders are keeping an eye on this week’s weather and how the large spec funds are trading the market. The funds are probably still long corn and soybean futures and offer overhead resistance unless fundamentals turn positive. This afternoon’s crop condition ratings should show little change for the 18-state average.

Cattle futures are trading lower despite recent strength in cash cattle trade and beef values. Choice beef is up .53 at 245.25 and Select is up .59 at 236.03.

Lean Hog futures are higher for the fourth straight day with prices back near the top of a wide trading range in place for two months. FOB Plant Pork is up .55 at 89.91 with higher values in belly, ham and butt cuts.

Corn Sep -1 363; Dec -1 374; Dec16 unch 399 Bean Sep -2 923; Nov -4 912; Nov16 -3 895 Meal unch 325 Oil -17 2891 Wheat Sep -6 501; Jly -6 518 KC -7 483; mge -6 512 Oats -5 222 Rice +15 1197

LC Aug -95 14750; Oct +2 14687; Feb -20 14827 FC Aug -5 21385; Oct -97 20645; Jan -90 19812 LH Oct +127 6660; Dec +72 6267; Feb +87 6727 Milk Sep +4 1650

 

US$ +.3% Dow +.3% SP +.3% NAS +.4% Tran +.3% VIX +3%

WTI -.7% Brent -.2% Gas -.9% NG -2.5% HO +.4% Eth unch Gold +.5% Slvr +.5%

5-yr -.041 1.556% 10yr -.041 2.157% 30yr -.034 2.808%