The CBOT again saw a mixed close, but the results were nearly opposite of Wednesday’s trade.   Corn closed strongly higher on much better than expected weekly export sales.  Wheat futures apparently gained on drier forecasts; trading the daily weather forecast is risky business. Weekly wheat export sales were supportive.  Soybean futures were pressured by less stellar export sales and possibly by spread trade and ongoing rumors of China cancelling nearby shipments.

Cattle futures posted higher closes for the fourth straight day on stronger cash cattle prices.  But this puts LC futures up against key chart resistance so interesting things could happen Friday.  Further strength has a caution flag with boxed beef falling sharply by late afternoon. Choice carcasses down 2.51 at 239.25; Select carcasses down 2.10 at 231.21/cwt. Feeder Cattle futures continue their march higher, hitting new contract highs.  The April FC contract is up $20/cwt since September 2013.

Lean Hog futures closed up the limit of $3/cwt even as the pork cutout showed some weakness.  However, the April LH contract is now at a discount to the CME Lean Hog Index.

Corn May +7 492; Jly +7 496; Dec +4 488 (482-89) Bean May -3 1436; Jly -3 1407; Nov unch 1193 Meal May +1 470; Oct +1 381 Oil -30 4043 Wheat May +14 710; Jly +13 714 KC +12 784; MGE +8 753 Oats +2 407 Rice +8 1547

LC Apr +67 14647; Jun +90 13852; Oct +47 13987 FC Apr +87 17950; Aug +62 18115; Nov +65 17910 LH Apr +300 limit 12547; Jun +300 12930; Oct +237 10410 Milk Apr +52 2403; May +24 2169

US$ +.15%

Dow -5 16264 SP -4 1849 NAS -22 4151 Tran -18 7411 VIX -.31 14.62

WTI +102 10128 Brent +62 10765; Gas +3 294 NG +18 458 HO +3 295 Eth +7 302

Gold -9 1295 Slvr -7 1969

2-yr unch 0.45% 5-yr +.04 1.72% 10yr -.02 2.68% 30yr -.02 3.53%

Blue Grass Stockyards Cattle Weekly Summary Report         for the week ending 03/26/14 Receipts:  3,368   Last Week:  3,414   Year Ago:  1,490 **Total receipts include 305 head sold in special cow sale Wed. night

Compared to last week steer and heifer calves sold steady to firm with good demand on a good through attractive offering some featherweight steers 5.00 higher with very good demand.  Yearling steers and heifers sold steady with last week.  Slaughter cows sold steady to 2.00 higher, slaughter bulls sold steady with very good demand. Total supply included 11% slaughter cows, 02% slaughter bulls, 09% replacements and 78% feeders.  Feeder supply 36% steers, 22% bulls, 42% heifers with 39% of feeders weighing over 600 lbs. 

KENTUCKY CASH GRAIN PRICES – Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here