Corn futures are benefiting from outside influences. The 2015 corn crop is getting off to an outstanding start, thereby boding rather ill for new-crop prices. However, futures are rallying in apparent response to low crop tour results on likely wheat yields, strong ethanol data on the weekly EIA report and a concurrent dive by the U.S. dollar. July corn futures gained 3.75 cents to $3.665/bushel around midsession Wednesday,
while December added 3.25 to $3.8225.   
The soy complex set back from early highs. The situation still seems quite supportive of soybean and product values, with energy and vegoil markets boosting soyoil quotes and talk of South American problems and Chinese demand seeming generally supportive. Despite those factors, as well as today’s U.S. dollar losses, beans and oil have set back and meal has apparently stalled. July soybean futures rose 1.0 cent to  $9.8575/bushel shortly before lunchtime Wednesday, while July soyoil edged up 0.04 cents to 33.09 cents/pound, and July meal slipped $0.2 to $315.0/ton.   
Wheat markets are reacting to wheat tour results. The Wheat Quality Council’s annual wheat tour is underway this week, with the first day’s results pointing to very uneven growth and disappointing productive potential. Futures have surged in response, with this morning’s U.S. dollar drop also encouraging bulls. July CBOT wheat futures jumped 13.0 cents to $4.795/bushel late Wednesday morning, while July KC wheat surged 13.0 cents to $5.0325/bushel, and July MWE wheat climbed 13.0 to $5.3775.   
Cattle futures are giving back Tuesday’s gains. Trader ideas that short-term beef buying might boost cattle prices apparently powered this week’s early gains, but late Tuesday news of declining beef cutouts ran counter to that narrative. Today’s CME reversal isn’t terribly surprising when seen in that light. June live cattle futures stumbled 0.67 cents to 150.77 as the lunch hour loomed Wednesday, while August cattle slumped 0.50 to 149.40. Meanwhile, May feeder cattle futures fell 0.52 cents to 214.85 cents/pound, and August feeders dove 1.12 to 217.12.    
Rising spot prices continue powering the CME hog rally. The cash hog and wholesale pork markets posted sizeable gains again Tuesday, with seasonal demand strength and supply slippage pointing to more of the same. Those considerations are spurring persistent Chicago buying. Futures premiums look quite large, but the market still seems deeply depressed by historical standards. June hog futures leapt 1.25 cents to 84.00 cents/pound in late Wednesday morning action, while December rallied 0.57 to 70.05.       
Technical selling may be weighing on cotton futures. The cotton market is again lacking for news, so traders are probably looking to outside influences. Thus, ongoing equity index declines seem to be weighing on the
New York market, whereas today’s tumble by the U.S. dollar appears to be having little effect. Having the most-active July contract drop below recently firm support associated with its 10-day moving average probablyexacerbated early selling. July cotton tumbled 0.67 cents to 66.08 just before noon (EDT) Wednesday, while December futures dropped 0.75 to 65.74.