Dry weather concerns drive up wheat prices at midday

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Corn futures are trading higher at midsession. Corn futures remain steady after rebounding in overnight trade. Overall, the fundamentals of the market remain bearish. The USDA’s crop progress report showed that 86 percent of the corn crop is planted which will limit gains. Above average expected harvests and yields will add pressure to prices also. July is 3 cents higher at $5.86 and December is 5 3/4 cents higher at $5.11 1/2.

Soybean futures are trading higher at midday. Despite, global economic uncertainty and a steady dollar soybean futures rebounded in overnight trade taking back some of the losses incurred over the previous two days of trading. The fundamentals of the market remain bullish. Poor soybean harvests in Argentina and Brazil will likely add additional support to prices. Weakness in the soybean oil market is weighing prices down as well. The July contract is up 4 3/4 cents at $13.91 3/4, and the November contract is up 2 1/4 cents at $12.97.

Wheat futures are trading higher at midsession. Wheat prices are trading higher on concerns that dryer weather in the US Midwest may damage the progressing wheat crop. A price rally in the corn market is lending support to prices as well. Look for expected rains in the U.S. Plains and abundant global supplies of wheat to continue to add downward pressure on wheat prices. CBOT July is 8 cents higher at $6.06 1/4; KCBT July is 8 1/2 cents higher at $6.23; and MGE July is 16 ¾ cents higher at $7.42.

Cattle futures are trading higher at midsession. Cattle futures are rising as demand and beef cutout values rebound. Choice was up almost $1.93 and select was up $2.65. Trade in the cash cattle market is quiet but asking prices are expected to open at $122 in the South and $195 or higher in the North. June cattle futures are 25 cents higher at $116.40 and August is 50 cents higher at $118.50.

Lean hog futures are trading higher at midsession. Strengthening pork prices and demand for pork products are supporting prices. The pork cutout value remains strong at $81.99, up $1.44 from the previous day. Packer margins are favorable and trade in the cash markets are up $1. The June contract is up $1.07 cents at $86.45, and July is $1.17 cents higher at $86.70.

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Nalliah Thayabharan    
June, 21, 2012 at 07:07 PM

Wheat raises blood sugar higher than most of the other foods. 4 slices of whole wheat bread raise blood sugar higher than 12 teaspoons of sugar. That’s a simple fact as per the table of glycemic index. Almost all wheat in USA is from a dwarf strain, which produces a far greater yield but has contributed to the current obesity epidemic. Some of the world’s most popular diets including Atkins, South Beach and the Dukan Diet have urged followers to ditch bread and other carbs to slim down, while a rising number of celiac and gluten sensitivity sufferers have dropped bread in the name of health. Modern wheat — including whole wheat — has become so uniquely destructive to multiple body functions that more than 80% of us could benefit from giving it up all together. 50% of us could see and feel results almost right away. When traditional wheat was genetically altered to become semi-dwarf wheat in the last century, it was assumed, without any testing, that the modifications would not change the way it affected those who ate it. Those genetic changes could be responsible for the rise in celiac disease and gluten sensitivity we are seeing today. Unique compounds in wheat such as gliadin, amylopectin A and others as triggers of hunger, sharper blood sugar spikes, behavioral disorders and destructive inflammation. Thousands of patients effortlessly lost weight, relieved joint pain, eliminated their need for inhalers and improved their blood numbers with the simple removal of wheat. Genetically altered form of wheat has been transformed into such a destructive “food” that any amount has the potential to trigger undesirable consequences. Due to the overwhelming inflammation-triggering effect of wheat gluten and lectins, or the appetite-stimulating effects of the gliadin protein unique to wheat even reduction does yield benefits, just not as dramatic as elimination.

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