Agricultural futures are lower today as are most commodity prices across the board. Friday’s bearish trade in gold, silver and energy futures was accelerated today by a disappointing GDP estimate out of China. Momentum is with the bears for the moment as US economic reports were negative last week and concerns have increased about the weaker EU countries. A weaker global economy will dampen export demand, especially if the U.S. dollar strengthens as a “safe haven” investment.

Corn May -12 646; Jly -13 628; Dec -17 533 Bean May -10 1403; Jly -16 1363; Nov -20 1212   Meal May -6 394; Oct -7 336   Oil -40 4883 Wheat May -24 691; Jly 023 697   KC Jly -20 739; MGE -11 788 Oats 012 368 Rice -28 1554

LC Apr -125 12460; Jun -122 11952; Oct -150 12360 FC Apr -125 13667; May -157 13935; Aug -175 14605 LH May -145 8592; Jly -147 8842; Oct -115 7980 Milk Apr +3 1761; May unch 1885

US$ +.2% Dow -.9% SP -1.2% NAS -1.3% Tran -2.5%   VIX +14% 13.75

WTI -3% Brent -2.8% Gas -1.3% NG -.4% HO -1.4% Eth -2.8%

Gold -8% Slvr -11%

5-yr unch 0.69% 10yr unch 1.72% 30yr -.01 2.91%

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