CBOT futures are down strongly with losses looking bigger because of the late-day rally yesterday. Despite these losses, prices remain above chart support areas.  Profit-taking in soybean futures may be the impetus given how close price was to chart resistance (double-top) in the November contract.  USDA reports were bearish for corn and wheat yesterday.

Live Cattle futures have been trading in narrow ranges this week on a lack of fundamental news.  October LC bounced higher after closing at a new low for this move yesterday.  Also the cash market reportedly traded at steady money to last week.

Today’s economic data was mostly negative so energy, precious metals and Treasury yields are lower.

Corn Dec -7.5 459; Jly -8 485

Bean Nov -12 1384; Jly -15 1308 Meal Oct -3 446.5; Jly -5 405 Oil -56 4222

Wheat Dec -12 641; Jly -14 654 KC -10 691; MGE -8 706

Oats -6 312

Rice -6 1547

LC Oct +40 12522; Feb +20 13092 FC Sep +22 15725; Nov +45 16000 LH Oct unch 9020; Dec -45 8682 Milk Sep +2 1819; Oct -17 1812

US$ +.1%

Dow +.4%

SP +.3%

NAS unch

Tran -.1%

VIX -1% 14.15

WTI -.6%

Brent -.5%

Gas -.2%

NG +.5%

HO -.6%

Eth -3.4%

Gold -1.3%

Slvr -1.4%

5-yr -.01 1.71%

10yr -.01 2.90%

30yr -.02 2.83% 

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