CBOT futures are mixed, having traded wide ranges since the electronic opening last night.  The highs came early last evening and then sold off into early morning before bouncing back some. Some of the buying interest has weakened as forecasts have moderated a little. Every forecast update (every few hours) has the potential to move the market.

Cattle futures are mostly higher on Tuesday’s higher boxed beef values and optimism for cash cattle prices.  Live Cattle charts also found support at yesterday’s lows.

Lean Hog futures are down slightly as the end-of-day pork cutout quote was weaker than the midday one that helped propel LH futures Tuesday.

Corn Sep +1 501; Dec -5 481 (480-492)

Bean Sep +11 1425; Nov unch 1370 (1362-1388) Meal Sep +6 462; Dec -1 429

Wheat Sep -1 649; Dec -2 661; JLY -1 676 KC +3 710;  MGE +7 736

Oats Dec -1 349

Rice +1 1644

LC Aug +55 12350; Oct +77 12750; Feb +60 13180 FC Aug +2 15475; Oct +112 15807; Jan +120 15802 LH Oct -12 8645; Dec -15 8340 Milk Sep +7 1774; Oct +11 1803

US$ +.5%

Dow +.3% SP +.4% NAS +.5% Tran -.3% VIX -2.5% 16.35

WTI +1% Brent +1% Gas +1.6% NG -1% HO +.9% Eth +1.3%

Gold -.1% Slvr -1%

5-yr +.05 1.57% 10yr +.05 2.76% 30yr +.04 3.74%  

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