CBOT futures are little changed at this moment, although since Wednesday evening they have traded fair-sized ranges. Traders are waiting for clarity on fundamental factors before pushing prices either way. Higher energy futures, precious metals and equities should be supportive. South American weather is a key factor in play the next few weeks, as is the ongoing drought in the High Plains wheat country.

Live Cattle futures are trading mixed today following yesterday’s sharp drop caused by weakness in the cash fed cattle market (down $1-2/cwt from week ago). Lack of strong consumer demand for beef so far in January has weighed on cattle futures.

Lean Hog futures are slightly higher on firm cash hog/pork markets and a break in the downward spiral of Live Cattle futures.

Corn Mar -2.5 729; Jly -2 719; Dec -5 587

Bean Mar -2 1434; Jly -4 1409; Nov -8 1289

  Meal Mar -2 417; Oct -3 364

  Oil -13 5118

Wheat Mar -2 783; Jly -1 796; Dec -1 817

  KC -5 837; MGE +1 872

LC Feb +15 12867; Apr -5 13265; Oct +2 13222

FC Jan -67 14640; Apr unch 15025; Aug +5 15840

LH Feb +55 8570; Apr +40 8782; Jly +2 9650

Milk Jan +5 1812; Feb +1 1750

Oats -1 356

Rice +6 1521

US$ -.1%

Dow +.5%

SP +.5%

Nas +.5%

Tran +.4%

  VIX -1.5% 13.21

WTI +1.2%

Brent +.5%

Gas +1%

NG +1.4%

HO +.2%

Eth +.1%

Gold +.4%

Slvr +.7%

5-yr +.027 0.777%

10yr +.026 1.872%

30yr +.030 3.065%