CBOT futures are mostly in the red with soybean meal barely holding a dollar/ton gain. With soybean oil down sharply, soybean futures are weaker. There’s no significant market news moving prices; rather, it appears traders aren’t prepared to take futures through overhead technical(chart) resistance going into the weekend. Wheat futures are especially hard hit with news that Egypt bought wheat in Europe much cheaper than U.S. traders offered earlier this week.

Cattle futures are lower at midday but well off the morning’s lowest prices. The only cattle trade reported has been $160 in Kansas; most may wait until after the Cattle on Feed Report this afternoon. Traders appear to have lost their early-week optimism for cash prices. Boxed beef values are up only 20 cents.

Lean Hog futures are mixed with nearby futures stronger and late-2015 contracts moving lower. $2.00 gains yesterday in cash hog prices is supportive, but today’s pork cutout is down sharply. FOB Plant Pork is down 1.48 to 70.84. LH futures are about a dollar below the morning’s highs.

Corn Mar -4 385; Jly -4 401; Dec -3 416 Bean Mar -7 1000; Jly -7 1008; Nov -6 980 Meal Mar +1 348; Oct unch 327 Oil -46 3137 Wheat Mar -10 517; Jly -9 513 KC -10 534; MGE -7 566 Oats unch 277 Rice -5 1074

LC Feb -142 15750; Apr -125 15025; Oct -70 14420 FC Mar -225 20030; May -150 19940; Aug -130 20235 LH Apr +55 6760; Jun -22 8122; Oct -102 6887 Milk Mar -17 1564; Apr -16 1557

US$ steady

Dow steady SP -.2% NAS steady Tran -.2% VIX +3% 15.73

WTI -.5% Brent +.3% Gas +1.2% NG +4.4% HO +6.4% Eth -1.2% Gold unch Slvr steady

5-yr -.041 1.532% 10yr -.046 2.066% 30yr +.108 2.684%