CBOT futures are strongly lower as the technical and fundamental pictures have a negative bias. Nearby corn and soybean futures broke uptrend lines on Tuesday’s closes. Trade talk of imported French feed wheat and export soybean meal sales being switched to South America are not good signs for demand. High prices may have cured high prices – for the short run anyway.

Cattle futures are down slightly as traders take profits without added support from the cash fed market. Boxed beef is offering some support at midday. Choice Beef is up .68 to 254.97 and Select is up 1.90 to 243.16/cwt.

Lean Hog futures are up slightly following yesterday’s big losses on profit-taking. While cash hog prices rose Tuesday, the pork market is down significantly again today. FOB Plant Pork down 1.38 to 92.78 on lower values for loin and picnics.

Corn Dec -7 364; May -7 386; Dec15 -8 408 Bean Jan -16 1007; May -16 1021; Nov -14 996 Meal Dec -6 372 Oil -23 3242 Wheat Dec -8 540; Jly -8 556 KC -7 586; MGE -7 571 Oats -6 328 Rice +29 1229

LC Dec -2 17080; Feb unch 17207; Jun -22 16087 FC Nov +5 24047; Jan -32 23695; Mar -37 23522 LH Dec +12 9167; Feb +17 9130; Apr +7 9302 Milk Dec +10 1845; Jan -4 1720

US$ steady

Dow -.1% SP -.3% NAS -.6% Tran -.4% VIX +4.9% 14.54

WTI +.7% Brent +1% Gas +1.3% NG +5.4% HO +.7% Eth -4% Gold -.8% Slvr +.9%

5-yr +.045 1.655% 10yr +.032 2.354% 30yr +.022 3.067%

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KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

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