Corn futures are leading the CBOT higher, followed closely by wheat. The friendly WASDE report on Friday and the ensuing strong market close and bullish chart pattern have carried through the weekend.

Cattle futures are trading higher on renewed optimism that the recent boxed beef price strength will continue and translate into higher fed cattle prices. $128/cwt was last week’s cash price.

Lean hog futures are down sharply on continued weakness in cash hog and pork values. January pork exports from the U.S. were down 15% from a year earlier. YTD hog slaughter is 1.6 percent ahead of the same time in 2012.

Corn May +8 711; Jly +10 690; Dec +6 553 Bean may +2 1473; Jly unch 1447; Nov -1 1267.5 Meal May -.5 435; Oct -1.5 357   Oil +4 5038 Wheat May +5 702; Jly +5 703.5   KC +2  736; MGE +2 794

LC Apr Apr +60 12820; Jun +20 12357; Oct +27 12875 FC Mar -67 13830; Apr +35 14170; Aug +25 15080 LH Apr -102 8100; Jun -130 9035; Oct -110 8215 Milk Mar +3 1706; Apr -1 1719

Oats +5 393 (MARCH oats +24 on short-squeeze) Rice -6 1530

US$ -.1% Dow +.2% SP +.1% NAS unch Tran unch VIX -5.6% 11.88 new low

WTI -.7% Brent -.6% Gas -1% NG -.1% HO -.1% Eth +1.5%

Gold +.1% Slvr -.5%

5-yr +.01 0.89% 10yr +.01 2.05% 30yr +.01 3.24%