CBOT futures are mixed. Market leadership is coming from soybean meal futures.  The September Soybean contract is up strongly as supplies will remain tight. With cooler temperatures coming in a few days and a 3-day weekend to enjoy, traders will likely lighten their market exposure by tomorrow.  Trading volumes will fall.

Cattle futures are slightly higher on optimism that cash cattle will trade equal or better than last week.

Lean Hog futures are surprisingly much higher given the sharp loss in pork values yesterday.

Outside markets are bearish commodities today – stronger dollar, weaker energy and metal futures.

Corn Sep -5 499; Dec -2.5 478 (477-483)

Bean Sep +15 1448; Nov +4 1376 (1360-1382) Meal Sep +7 470; Dec +5 434 Oil -59 4372

Wheat Sep -6 641; Dec -7 652; JLY -7 665 KC -7 699;  MGE -6 728

Oats Dec -3 345

Rice Nov -3 1568

LC Aug +25 12355; Oct +37 12730; Feb +35 13192 FC Aug +27 15500; Sep +20 15612; Jan +27 15787 LH Oct +70 8675; Dec +80 8395 Milk Sep -10 1769; Oct -15 1790

US$ +.8%

Dow +.6% SP +.7% NAS +1.1% Tran +.9% VIX -2.2%   16.13

WTI -.8% Brent -.6% Gas -.2% NG +.9% HO -.2% Eth -.6%

Gold -.9% Slvr -2.3%

5-yr +.03 1.64% 10yr +.02 2.79% 30yr +.01 3.74% Treasury yields rose after today’s report of U.S. 2^nd quarter GDP growth of 2.5 pct, up from the preliminary 1.7 pct estimate.  Higher treasury yields also supported the US dollar’s value.  There also seems to be more uncertainty about an attack (delayed ?) on the Syrian government/military.

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