CBOT futures are taking a break today with relatively small price changes. Traders are keeping their eyes on forecasts for rain in Argentina and the U.S. southern Plains.

Cattle futures are not benefitting from any follow-through buying after the strong gains seen Monday. Market needs more strength in boxed beef values.

Lean Hog futures are under pressure, especially in the deferred contracts. Monday’s cold storage report showed frozen pork stocks up 5.4% from a month earlier and up 14.4% from a year earlier. Ribs are a major factor.

Corn Mar -1 728; Jly +1 723; Dec unch 590

Bean Mar -3 1449; Jly -1 1430; Nov -1 1312   Meal -1 421   Oil -232 5220

Wheat Mar +4 783; Jly +2 796   KC +6 837;  MGE +4 868

LC Feb -40 12532; Apr -85 12962; Oct -42 13102 FC Jan -55 14385; Apr -67 14897; Aug -27 15770 LH Feb -27 8542; Apr -107 8720; Jly -105 9595 Milk Jan +1 1811; Feb -3 1724

Oats +5 364

Rice -8 1532 

US$ +.1%

Dow +.3%

SP -.1%

NAS +.3%

Tran steady

VIX unch 12.43

WTI -.2%

Brent +.3%

Gas +.3%

NG -.6%

HO +.4%

Eth -.2%

Gold -.4%

Slvr +.4%

5-yr -.018 0.740%

10yr -.023 1.825%

30yr -.020 3.017%