The CBOT has awakened today with corn and wheat futures leading the market higher. Corn was already pressing the bottom end of the trading range, so an upside move has the least resistance.  Market news suggests concern about hurricane damage to corn may tighten supplies on top of the drought losses.  Wheat futures are up not only in sympathy with corn futures but also from increasing odds that Russia won't have enough wheat to export.

  Live Cattle futures are up strongly on trader optimism that the cash market will improve this week. Boxed beef is not leading it higher. 

  Lean Hogs continue to struggle under the weight of the pork supply but futures are edging higher in sympathy with Live Cattle.

  The U.S. GDP expanded at a 1.7% rate in the 2nd Quarter of 2012, in line with expectations.

Corn Sep +16 805; Dec +13 808; May +11 801

Bean Sep +10 1742; Nov +11 1733; May +10 1558      Meal +2.5 536.7      Oil +44 5617

Wheat Sep +25 880; Dec +24 900; Jly +12 859      KC +21 889;  MGE +20 930

LC Aug +117 11200; Oct +187 12562; Feb +112 13237

FC Aug +20 14050; Oct +90 14537; Jan +80 14952

LH Oct +30 7355; Feb +7 7882

Milk Sep +16 1922; Oct +30 2029

Oats +11 385

Rice -13 1525

US$ +.1%

Dow unch

SP steady

NAS unch

Tran -.2%

 VIX +1% 16.65

WTI -1.4%

Brent -.2%

Gas -1%

NG +.4%

HO -.3%

Eth +.7%

Gold -.1%

Slvr -.5%

5-yr +.021 0.699%

10yr +.034 1.671%

30yr +.035 2.785%