Corn, soybeans, meal and wheat are all under serious pressure, with Kansas City wheat leading the losses. There is not a whole lot of news to drive this weakness. Weather in Brazil is mostly bearish, except for too much rain in the south, while Argentina is still drier than desired. Export inspections continue to run well ahead of a year ago on both corn and soy. Monday’s slight regression in the corn markets has lent a hand to the feeder cattle contracts and is allowing for the contracts to trade mildly higher. The live cattle and lean hog contracts are keeping with their upward progression as traders are ready to start the new week optimistically.
Jesse Allen has our full midday report: http://lightningstream.com/ajax/GetODFile.ashx?call=MIDWEST&fileid=1245
