CBOT futures are down slightly almost across the board. Favorable weather and expectations of fund liquidation (or rolling longs from old-crop to new-crop) are weighing on futures. Moving to new lows for this recent downtrend include the three wheat exchanges, soybean oil and new-crop corn.

Cattle futures are trading lower with feeder cattle backing away from the contract highs that were set or nearly matched yesterday.  Today’s highest prices came in overnight trading but have been working lower this morning. Boxed beef was weaker yesterday.  Choice is down .33 this morning.

Lean Hog futures are mixed with a sharp drop in the nearby JUNE LH contract as cash hog and pork markets can’t seem to get a footing. Pork cutouts are up slightly this morning.

Corn Jly -2 468; Dec -2 460

Bean Jly -1 1498; Nov -6 1238

Meal Jly +1 499; Oct -1 407

Oil -48 3893

Wheat Jly -3 630; Dec -1 662

KC -5 726; MGE -4 710

Oats +6 368

Rice -6 1496

LC Jun -30 13772; Dec -65 14540

FC Aug -45 19660; Oct -60 19780

LH Jun -125 11305; Jly -27 12032; Oct +30 10630

Milk Jun +32 2090; Jly +32 2056

US$ -.1%

Dow -21 16678

SP +1 1921

NAS -1 4247

Tran -6 8104

VIX -.13 11.44

WTI -1%

Brent -.6%

Gas -.8%

NG -.6%

HO -1.1%

Eth -.1%

Gold -1%

Slvr -1.8%

5-yr +.026 1.54%

10yr +.023 2.47%

30yr +.017 3.32%

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