Financial
Politically fractured EU reflects that condition at featureless G 20 meeting
FOMC begins today with they can actually do as evidenced by their former futility
Spanish rates over 7% a red flag
Italy is coming down the road to ruin right behind the Spanish
DAX up .6% and drifting
Dow quiet start expected
Dollar index 81.73 off 21 or in range
Crude just $.17 higher at $83.44
Gold uneventful
Livestock
Large 653,000 cattle slaughter leaves show lists lighter
Boxed beef $ .50 in both choice and select
Hot and dry threatens pastures
Heat also curbs appetites
Pork cutout up $ .21 with loins down $1.74, hams off $ .38 and bellies up $ 3.90
Slaughters 130,000 and 391,000
Grain and soybeans
Corn crop condition drops to 63% good to excellent from 66%
Beans fall to 56% from 60% with IL, IN and OH declining
Spring wheat still great at 76%
Winter harvest is 48% complete
One-third of corn has had one-half of normal rains and only one-quarter has had the usual amount
One private estimate puts corn yield at 159 bushel per acre down from 161 and beans at 42.5 from 43
December corn has come out of the night above its $5.45 resistance
November soybean resistance is near by at $13.80
July wheat range $6.20-6.60
Outside markets waiting for further evidence with major economic meetings on going