CBOT futures are mostly lower across the board but 3-5 cents off the day’s lows. Weather continues to be favorable in most cases and momentum has been negative as the large spec funds got caught on the wrong side of the market (still long corn and soybeans). Very weak energy futures probably adds to the CBOT weakness today. December Corn and November Soybeans hit new lows for this July/August decline.

Cattle and hog futures are strongly higher today. Cattle futures are adding to last week’s gains while Lean Hogs are erasing Friday’s losses. Some support is coming from ideas retailers will begin to buy supplies for Labor Day demand. Choice Beef is up .41 to 233.66 and Select is down .18 at 229.11. FOB Plant Pork is up .87 at 88.35.

Corn Sep -2 369; Dec -3 378 Bean Sep -7 946; Nov -3 937 Meal -1 337 Oil -21 2989 Wheat Sep -3 496; Dec -2 502 KC -5 487; MGE -6 517 Oats -8 233 Rice -1 1150

LC Aug +282 14852; Dec +267 15012 FC Aug +370 21442; Oct +367 20947 LH Aug +140 7990; Oct +187 6560 Milk Aug +1 1642; Sep +6 1662

 

US$ +.1% Dow -.4% SP -.1% NAS +.1% Tran +.6% VIX +2.9% 12.47

WTI -2.5% Brent -3.7% Gas -4.4% NG -.2% HO -2.2% Eth -1% Gold -.5% Slvr -1.1%

5-yr -.028 1.520% 10yr -.039 2.166% 30yr -.050 2.878%