CBOT futures are mostly higher, but are trading below the overnight highs. Wheat continues to show strength from worries that wheat exports could be cut off from Ukraine and Russia and that dry Australian weather could cut world supplies.  CBOT Soybeans are strongest in the November and January contracts which expire before a huge South American crop arrives.  

  Live cattle futures are slightly higher, adding to last week’s big gains. The futures market was helped by Friday’s cash trade gain of $2/cwt to $127-128/cwt.  Also, USDA’s Cattle on Feed Report is considered friendly since the on-feed inventory came in below expectations (-2.6% vs -2.2%), primarily because September placements were 19.6% below a year ago.

  Lean Hog futures are trading lower after the market opened steady.  The December Lean Hog contract had gained over $9/cwt since the September low was set.   A correction is not unexpected.  Last week the pork cutout gained over $2/cwt and cash hogs remain at about a $4 premium to December futures.

  European worries continue to hang over the financial markets as Spain goes through elections.  Also, signs are growing that the world economy is slowing.

Corn Dec +3 765; Mar +3 762; Dec’13 +1 635.5

Bean Nov +12 1546; Mar +8 1517; Nov’13 -6 1332 Meal Dec +6 470; May +2 427   Oil +27 5185

Wheat Dec +7 880; Jly +8 856   KC +5 913; MGE +6 949

LC Oct +7 12637; Dec +17 12745; Apr +40 13517

FC Oct -60 14555; Nov -25 14812; Jan -25 14997

LH Dec -72 7890; Feb -50 8520; Jun -47 10035

Milk Oct -2 2102; Nov -19 2043

Oats +4 398

Rice -4 1498

 US$  -.1%

Dow -.1%

SP -.1%

NAS +.3%

Tran -.3%

VIX +1.3% 17.29

WTI -.6%

Brent -.1%

Gas -.7%

NG -.4%

HO -.8%

Eth -.2%

Gold +.2%

Slvr +.8%

5-yr +.026 0.775% 10yr +.026 1.792% 30yr +.011 2.946%

UK celebrates 50 years of no-till agriculture

http://news.ca.uky.edu/article/uk-celebrates-50-years-no-till-agriculture