Bearish expectations continue weighing on crop futures. The reduced threat of frost this weekend seemingly triggered fresh selling in the crop markets this morning, but traders are probably anticipating bearish production revisions on Thursday’s big USDA reports. December corn futures sagged 3.75 cents to $3.445/bushel late Tuesday morning, while May lost 4.0 to $3.6575.

The soy complex is also moving mostly lower. As in the corn market, prospects for decent late-season weather and big production numbers are weighing on soybean, oil and meal prices. Early news of another sizeable bean sale limited losses in September beans and boosted nearby meal, but most contracts are suffering from the prospective supply/demand imbalance. November soybean futures fell 11.25 cents to $9.9725/bushel around midsession Tuesday, while October soyoil sank 0.17 cents to 31.79 cents/pound, and October soymeal added $0.6 to $353.7/ton.`

The wheat markets remain under pressure as well. The sub-rosa nature of the Ukraine conflict is denying the wheat markets of a bullish spark, which in turn is allowing the bearishness of the global situation to dominate trading. Late news of huge Russian exports exemplified the plentiful supply. December CBOT wheat slid 4.75 cents to $5.2475/bushel just before lunchtime, while December KC wheat dipped 3.5 cents to $6.255/bushel, and December MWE wheat slumped 5.25 to $6.055.

Cattle futures resumed their advance Tuesday morning. Cattle futures began the week rather poorly after surging last week. However, the late report of big beef gains apparently improved prospects for this week’s trading, with futures posting across the board gains this morning. October live cattle futures climbed 0.55 cents to 159.07 cents/pound in late Tuesday morning trading, while December futures gained 0.65 to 161.50. Meanwhile, October feeder futures jumped 1.10 cents to 227.02 cents/pound, and January feeders leapt 1.15 to 219.12.

Resurgent pork prices are spurring hog gains. Hog futures began the week in mixed fashion, as did cash and wholesale quotes. However, pork prices reportedly jumped this morning, thereby encouraging fresh buying in the CME pit. October hogs soared 1.95 cents to 105.02 cents/pound as the lunch hour loomed Tuesday, while December vaulted 1.75 to 97.80.