CBOT futures are trading lower following release of the USDA Crop Report and WASDE. While there weren’t any big surprises, USDA’s numbers were mostly larger than the “average guess.” Since most believe that big crops get BIGGER as USDA updates its forecasts, prices are under pressure. This has resulted in most contracts moving to new contract lows. These crop yields and crop totals, if realized, will be new RECORDS.

Cattle futures are down sharply on technical selling as it looks like yesterday’s late-day recovery was a head-fake.

Corn Dec -9 330 (lo 329); May -7 359; Dec’15 -6 385 Bean Nov -18 976 (lo 969); May -17 995; Nov’15 -16 989 Meal Oct -10 339; May -8 324 Oil -23 3140 Wheat Dec -13 507; Jly -12 545 (lo 544) KC -12 603; MGE -10 588 Oats -4 353 Rice +17 1250

LC Oct -197 15772; Apr -100 15785 FC Sep -87 22797; Oct -132 22580; Mar -175 21675 LH Oct -70 10640; Feb -35 9315 Milk Sep +2 2447; Oct +14 2296

Crop Report Results Corn = 171.7 bu/acre is 1.0 above average trade guess and 4.3 bu/ac above the August forecast. Prod’n = 14.395 billion bushels, 107 million larger than average guess ----------------------- Soybean = 46.6 bu/acre, 0.3 bu above average guess and 1.2 bu greater than the August forecast. Prod’n = 3.913 billion, 30 million above the average guess. 2014/15 Ending Stocks from WASDE Corn = 2.002 billion bushels vs avg guess of 2.012 billion Bean = 475 million bushels vs avg guess of 453 million Wheat= 698 million bushels vs avg guess of 667 million

KENTUCKY CROPS Corn: 148.0 bu/acre, up 10.0 from August and down 22.0 from last year. Production = 214.6 million bushels, down 28.5 million from 2013.

Soybean: 46.0 bu/acre, up 6.0 from August and down 3.5 bu from last year. Production = 77.74 million bushels, down 34.4 million from 2013.

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

WTI +.3% Brent -.5% Gas -.5% NG -3.5% HO -.3% Eth -5% Gold -.5% Slvr -1.6%

5-yr -.008 1.773% 10yr -.005 2.531% 30yr -.006 3.264%

Tobacco Production

KENTUCKY	2014 Crop	2013 Crop
BURLEY – Yield	2200 lbs	2000 lbs
- Production	160.6 mil lbs	148.0 mil lbs
U.S. Production	211.745 mil.	192.465 mil.
Fire-Cured- Yield	3300 lbs/acre	3100 lbs/ac
Production	29.7 mil lbs	27.9 mil lbs
U.S. Production	50.543 mil.	50.388 mil.
Dark-Air – Yield	2800 lbs/acre	2700 lbs/ac
Production	12.04 mil lbs	11.34 mil lbs
U.S. Production	14.90 mil.	13.79 mil.

KENTUCKY CASH GRAIN PRICES – Click Here  

KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

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