It appears that traders had a change of heart over the weekend.  On Friday, soybean futures posted 30-40 cent gains even though the Quarterly Stocks Report was somewhat bearish. Today, soybean futures are leading the market lower.  Corn futures are holding up well today given its very bullish stocks estimate. Wheat futures are moderately lower as soil moisture has improved in wheat country so the 2013 crop should get off to a good start.

  Cattle futures are trading higher, recovering Friday’s losses in the Live Cattle pit. However, Feeder Cattle have only marginally recovered since corn prices are stable today.

  Deferred Lean Hog futures are trading much higher today following Friday’s Hogs and Pigs Report that showed the breeding herd down 0.3% from a year ago.   

Corn Dec -2 754; Mar -3 756; Dec’13 unch 630

Bean Nov -37 1564; Mar -33 1531; nov’13 -9 1329  Meal Oct -12 475; May -6.5 440.5  Oil -147 5071

Wheat Dec -26 876; Jly -19 848   KC -27 900; MGE -27 931

LC Oct +22 12230; Feb +20 12862;

FC Oct +70 14450; Nov +105 14540; Jan +60 14797

LH Oct +47 7765; Feb +170 8195

Milk Oct +24 2110; Nov +15 2098

Oats -4 366

Rice -16 1531

US$ -.25%

Dow +1%

SP +.8%

NAS +.4%

Tran +.4%

 VIX +.6% 15.82

WTI +.2%

Brent -.5%

Gas -.9%

NG +3.6%

HO -.6%

Eth -.5%

Gold +.3%

Slvr +.5%

5-yr -.008 1.627%

10yr -.007 1.627%

30yr -.009 2.832%