MARKET FLASH:    Commentary From Leading Sources


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--Markets close at 12pm today and are closed Friday. Have a safe and happy 4th. Remember to place targets as volatility is high (Agtegra)

--The WTD estimate for FI cattle slaughter through Wednesday is 363,000 head. That is just 1,000 behind the same week last year (Barchart LC)

--Outside of the FCE, USDA reported moderate Wednesday cash activity mostly at $95. On Wednesday, live cash sales went $95-96 in all feeding regions, and dressed sales were $154 to $155 (Barchart LC)

--U.S. Senator Cruz will block EPA nomination over biofuels costs to refiners (Reuters)

--4.8M jobs added and unemployment falls to 11.1% as more states reopen after COVID-19 shutdowns (USAToday)

--KANSAS WEATHER FLASH: Flash Flood Warning this morning for Central Lyon County, KS, including Emporia where we've seen up to 3" of rain already with storms overnight

--Winter Livestock (Dodge City): Receipts reported for Wednesday at 1,255 head, compared to 1,817 last sale and N/A last year (AMS/USDA)

--Nursing homes have been the epicenter of the coronavirus outbreak, 43% of U.S. coronavirus deaths are linked to nursing homes (Axios)

--China has been an active buyer of US soybeans for new crop delivery in recent weeks, but this has been met with caution by some analysts. Their opinion is China has been making purchases with little interest in actually taking delivery of all bookings, but rather they were made to appease critics who doubted the phase 1 agreement (AgriVisor)

--This could quite possibly be the first real weather weekend of the growing season, and to see some risk premium added to futures ahead of it would not be surprising. The overall tone of the market is that production, even if reduced, will be enough to cover forecasted demand (AgriVisor)

--Huss Livestock Market (Kearney, NE): Compared to two weeks ago, yearling steers sold $3-4 higher and yearling heifers sold $2 higher (AMS/USDA)

--BEFORE THE BELL: U.S. stock futures rose, in line with world stocks, as signs of progress in developing a COVID-19 vaccine and expectations of a rebound in U.S. jobs figures boosted sentiment across markets (Reuters)

--Tesla is building mobile molecule printers to help make the potential COVID-19 vaccine being developed by CureVac in Germany, the electric-car maker's Chief Executive Officer, Elon Musk, tweeted on Wednesday (Reuters)

--The U.S. House of Representatives passed legislation on Wednesday that would penalize banks doing business with Chinese officials who implement Beijing's draconian new national security law imposed on the former British colony of Hong Kong (Reuters)

--Farmer selling has been very active, as corn is up 37cts on the week. Corn use for ethanol production is estimated at nearly 92 million bushels and needs to average over 96 to meet USDA estimates (Agtegra)

--United Airlines is tripling its August schedule, adding nearly 25,000 domestic and international flights as demand rises (Reuters)



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Beef Balance Sheet

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Soybean Balance Sheet
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Top 25:  Largest Steer & Heifer Strings Sold Today
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Wheat Balance Sheet





Rob Cook, RobCookKC@Gmail.com