The “weather market” has finally arrived – if only to a small degree, so far.  A turn to drier and warmer weather is boosting CBOT futures today as conditions will not support a maximum yield finish to the crops. Plus the late maturity of crops  makes them susceptible to an early frost. Also, traders believe corn and soybean harvested acreage could be smaller than NASS’s number based on prevented planted acreage reports out of FSA – this will remain a guessing game until October’s USDA report.

Cattle futures are higher on follow-through to Friday’s strong cash cattle and beef markets.

Corn Sep +11 484; Dec +13 477 (hi 481); Jly +13 503

Bean Sep +30 1314; Nov +36 1295 (hi 1299); Jly +10 1246

Meal Sep +7 416; Dec +14 400

Oil +66 4347

Wheat Sep +9 640; Dec +8 652; Jly +7 668

KC +8 706; MGE +7 744

Oats +7 384

Rice -1 1554

LC Aug +10 12400; Oct +30 12822; Feb +42 13217

FC Aug +47 15525; Oct +55 16042; Jan +57 16000

LH Oct -22 8650; Dec -17 8327; Feb -12 8535

Milk Aug -3 1802; Sep -42 1781

US$ steady

Dow -.1%

SP -.1%

NAS +.4%

Tran -.2%

VIX +2% 14.67

WTI -.5%

Brent -.1%

Gas -.8%

NG +3%

HO steady

Eth +.3%

Gold -.5%

Slvr -1%

5-yr +.04 1.61%

10yr +.04 2.87%

30yr +.04 2.89% 

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