Crop prices continue to be pressured by favorable growing conditions including below-normal temperatures (accompanied by occasional predictions of an early frost).   Selling by the speculative funds magnifies the weakness.

CBOT Wheat is leading the bearish action today as prices weakened overnight and accelerated downward this morning.  Soybean futures also traded down overnight but turned around early this morning and are well off the bottom now.

Cattle futures are little changed waiting to get direction from the cash beef and cattle markets.  Strength at the opening bell this morning was short-lived and prices are near the day’s lows.

Lean Hog futures are higher, adding to gains seen last week on rising pork cutout values. The August LH contract is trading above the old high posted in June. This contract went from $100 at Thanksgiving to $88 in March and is now back to $100.

Corn Sep -7 469; Dec -5 459 (456-465)

Bean Sep -3 1210; Nov +5 1186 (1170-1189) Meal Sep -3 382; Dec -1 353 Oil +34 4283

Wheat Sep -17 644; Dec -17 656; Jly -15 667 KC -12 694; MGE -7 734

Oats 02 336

Rice +15 1595

LC Aug +12 12077; Dec +12 12712 FC Aug +15 15387; Oct -25 15890; Jan -5 15867 LH Aug +87 10012; Dec +110 8190 Milk Aug +6 1795; Sep -5 1837

US$ steady

Dow -.3% SP -.2% NAS -.1% Tran -.4% VIX +.7% 12.06

WTI -.2% Brent -.3% Gas -1.1% NG -.5% HO -.5% Eth -.4%

Gold -1% Slvr -1.3%

5-yr +.04 1.40% 10yr +.05 2.65% 30yr +.04 3.73% KENTUCKY CASH GRAIN BIDS – Click Here