CBOT futures are up strongly on good nearby export demand – even with China on holiday. The soy complex is led higher by soybean meal with the nearby March soybean meal breaking out to a new contract high, surpassing the double top set in December and January. Wheat futures are gaining support from increased worries that the dormant wheat crop has been damaged and that soil moisture is inadequate with no significant change in the drought pattern expected.

Weakness in the cattle pits continues as there’s no sign of a recovery from the past week’s collapse in beef values. SEE CHART BELOW.

Lean Hog futures are up slightly as pork values rose on Monday and are seeing a little more strength at midday.  February LH was sitting at a critical support area, so the rally relieves some of the risk there.

Financial markets are correcting a portion of Monday’s huge market move.  However, additional losses in US equities are very possible in the coming days.

Corn Mar +4 440; Jly +4 451; Dec +4 457 Bean Mar +21 1314; Jly +18 1281; Nov +4 1112 Meal Mar +12 446; Oct unch 350 Oil +33 3778 Wheat Mar +14 578; Jly +16 584 KC +16 641; MGE +11 622 Oats +8 423 Rice +3 1533

LC Feb -57 13980; Apr -15 13925; Oct +2 13270 FC Mar -22 16777; Apr -30 16810; Aug -45 17000 LH Feb +42 8530; Apr +32 9317; Jun +25 10380 Milk Feb +21 2302; Mar +12 2094

US$ +.2%

Dow +.5% SP +.8% NAS +1% Tran +.9% VIX -13.5% 18.54

WTI +.8% Brent -.3% Gas -.2% NG +7%  526 HO -.7% Eth +.5%

Gold -.6% Slvr +.2%

5-yr +.04 1.48% 10yr +.05 2.63% 30yr +.07 3.60%

KENTUCKY CASH GRAIN PRICES – Click Here

KENTUCKY LIVESTOCK AUCTIONS --  Click Here