CBOT futures are steady to lower after some strength was seen ahead of the 930 am CT pit opening. There is a lack of follow-through buying from Tuesday’s rally in corn and wheat.

Cattle futures are up slightly today following two days of sharp losses. Traders need to see some stabilization in the boxed beef values.

Lean Hog are slightly higher with traders watching for clearer direction from the cash markets.

Financial markets, especially for Treasuries, may react to this afternoon’s release of the minutes from the FOMC’s October meeting.  Traders are looking for clues to when tapering will begin and rates increased. Economic reports earlier today were mixed. Corn Dec -1 417; Jly -1 441; Dec14 -1 454 Bean Jan -4 1272; Jly -1 1248; Nov +1 1151 Meal Dec -3 406; Jly -2 386 Oil +21 4020 Wheat Dec -2 648; JLy -4 655 KC -3 695; MGE -1 696 Oats +8 363 Rice -10 1574

LC Dec +2 13097; Jun +35 12685 FC Nov +5 16442; Jan +42 16282; Apr +37 16390 LH Dec +32 8575; Apr +32 9307 Milk Nov +1 1882; Dec unch 1787

US$ +.3% Dow +.1% SP +.2% NAS +.4% Tran steady VIX -1.4% 13.20

WTI +.5% Brent +.8% Gas +.9% NG +2% HO +1.2% Eth +.8%

Gold -.9% Slvr -.5%

5-yr -.02 1.34% 10yr unch 2.71% 30yr unch 3.80%  

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