Soy futures have been supported by stronger crush

Soy futures have been supported by stronger crush margins as demand for soybean oil in renewable diesel production remains robust. Industry players anticipate sustained upside into Q Levies that had reached as high as 26 per cent on soybeans and 24.5 per cent on soybean oil and meal were cut to zero, triggering US$7 billion in declared sales within just two days. Posted 11:43 -- December live cattle are up $0.45 at $233.925, November feeder cattle are up $1.93 at $354.325, December lean hogs are up $0.68 at $87.35, December corn is down 1/2 cent per bushel and December soybean meal is steady. The Dow Jones Industrial Average is up 527.16 points and NASDAQ is up 53.01 points. Both the feeder cattle and lean hog contracts are trading higher into Friday's noon hour, but the live cattle contracts remain hesitant to do so. No new cash cattle trade has been reported but more trade needs to develop ahead of the week's end as virtually no cattle have traded yet in the South. Weather models project above-average temperatures in the U.S. growing regions, prompting upward revisions in risk premiums for soy futures contracts.