CBOT futures are trading mixed.  The various commodities are reversing roles from yesterday – soybeans are the biggest gainer and wheat is the laggard.  Soybeans are responding to friendly outside markets and to ideas that China may be stepping up purchases.  Soybean oil is up today since crude oil isn’t weighing on it.

  Positive US economic reports and a rising US stock market are giving buyers courage in livestock futures.  Cattle and hog futures are both higher. In fed cattle, the packers and feedlots are miles apart on their bids and offers.  Packer margins are in the red.

Corn Dec -4 756; Mar -3.5 760.5; Dec’13 +1 641

Bean Jan +3 1449; Mar +5 1440; Nov +1 1306 Meal Dec +1.5 441.5;  Oct +1 371   Oil +11 5022

Wheat Dec -5 871; Jly unch 887   KC -4 914; MGE -1 938

LC Dec +32 12815; Jun +42 13180 FC Jan +50 14675; Apr +37 15092; Aug +35 15670

LH Dec +72 8455; Apr +65 9220

Milk Dec +2 1917; Jan +5 1890

Oats -4 367

Rice unch 1519 

US$ -.2%

Dow +.3%

SP +.4%

NAS +.6%

Tran +.5%

VIX -2% 15.20

WTI +1.7%

Brent +1%

Gas +1%

NG -3%

HO +1.2%

Eth -.1%

Gold +.5%

Slvr +1.7%

5-yr +.007 0.641% 10yr +.002 1.635% 30yr +.005 2.808%