Corn futures ended higher credited to the sharp drop in the dollar and the significant rally in crude and equities.  The market injected some risk premium due to dryness in the eastern Midwest and some areas of the south and SE.  Today, FC Stone pegged the U.S. corn crop at 13.195 billion bushels with a yield 162.9 bushels per acre.  In other news, South Korea's leading feed maker bought up to 55,000 tonnes of option origin corn.  \

Wheat futures advanced the most in nearly two weeks as excessive moisture in Europe has threatened crops.  Also, Egypt stepped up its purchases of U.S. corn, buying 225,000 metric tonnes of U.S. hard wheat for shipment from October 11-October 20th.  In northwestern Europe, the grain harvest has been sluggish due to rainfall that may cause flooding.  Quality issues have been prevalent, especially since parts of Germany received two to three times the normal amount of precipitation. 

Soybean futures struggled for the third consecutive day on ideas that rains in the Midwest will favor U.S. crops.  Over the past 24 hours, the drier areas of Iowa and southern Minnesota received moisture, while some of the driest pockets of the Midwest will see rain coverage in the next 48 hours.  Today, FC Stone said it estimates the U.S. soybean crop at 3.39 billion bushels with a yield of 43.5 bushels per acre. 

Hogs futures were generally lower amid profit taking and sloppy fundamentals.  Spreading was also featured as traders bought October and sold December.  Traders booked profits following yesterday's wholesale pork price which slid $2.03.  Tuesday's pork price dip was an indication that some grocers are leveling off from pork purchases ahead of the Labor Day Holiday.  However, futures' losses were limited by the stock market's positive performance. 

Live cattle futures were firmer Wednesday on short covering and outside-market strength.  The lower dollar is expected to help improve U.S. exports, while the strength in the stock market is a sign that consumers will purchase higher end beef cuts.  Cash cattle returns this week have been reported at $97 so far.  Last week, cash cattle brought in $99 to $99.50.  December gained the upper hand as funds rolled from October into the December contract ahead of Goldman business.