TOP STORIES 
 

Official Illness Count from Chipotle Outbreak Up to 111 -- Market Talk

13:43 ET - The number of illnesses officially reported to the local health department investigating an outbreak at a Chipotle (CMG) in Virginia has risen to 111, according to Dr. David Goodfriend, director of the Loudoun County Health Department. The restaurant reopened on Wednesday after being closed for more than a day for sanitation after customers began reporting becoming ill over the weekend. "We are not aware of anyone who has become sick since the restaurant reopened," Dr. Goodfriend said. So far, one person has tested positive for norovirus, a common virus that CMG said appeared to be the culprit. But Dr. Goodfriend said it is too soon to identify norovirus as the cause. Shares fall 2.3% to $8.36, the sixth straight losing session. (julie.jargon@wsj.com)

 

Corn Futures Sink on Profit Taking

Improving weather forecasts sparked a selloff in corn futures, as traders took profits ahead of the weekend.

An overnight bout of rain in Midwestern states such as Iowa, combined with a wetter outlook for the remainder of the month, eased some concerns about the lack of moisture and subsequent yield loss in corn plants.

Corn futures for September delivery fell 2.9%, to $3.79 3/4 a bushel, at the Chicago Board of Trade, erasing two days of weather-related gains and increasing selling pressure on other grain-and-oilseed contracts.

 
   STORIES OF INTEREST 
 

Potbelly's Valuation Looks Too Full -- Barron's Blog

Potbelly ( PBPB) is lower Friday, following a downgrade from Maxim Group.

Analyst Stephen Anderson cut his rating on the stock to Hold from Buy, as the stock was approaching his $13 price target. He writes that he expects the company to beat earnings expectations again this quarter, by a penny, but he expects negative comps to remain an issue.

 
   FUTURES MARKETS 
 

U.S. Cattle Herd Riding High

The number of U.S. cattle being fattened for slaughter rose above expectations in June, according to government data, adding to supply pressure in the futures market.

In a report released after markets closed, the U.S. Department of Agriculture said the total number of cattle on feed in commercial feedlots rose to 10.8 million head as of July 1, up 4% from 10.4 million the same time last year. Analysts surveyed by The Wall Street Journal had anticipated a 3% increase.

 
   CASH MARKETS 
 
Estimated U.S. Pork Packer Margin Index - Jul 21 
 
All figures are on a per-head basis. 
 
Date     Standard Margin       Estimated margin 
         Operating Index         at vertically - 
                             integrated operations 
                                      * 
Jul 21       +$35.13             +$ 90.29 
Jul 20       +$34.42             +$ 92.34 
Jul 19       +$34.42             +$ 93.13 
Jul 18       +$35.50             +$ 93.63 
 
* Based on Iowa State University's latest estimated cost of production. 
A positive number indicates a processing margin above the cost of 
production of the animals. 
 
Beef-O-Meter 
This report compares the USDA's latest beef carcass composite 
values as a percentage of their respective year-ago prices. 
 
                                 Beef 
          For Today             Choice  102.8 
      (Percent of Year-Ago)     Select  102.0 
 
USDA Boxed Beef, Pork Reports 

Wholesale choice-grade beef prices Friday fell 74 cents per hundred pounds, to $206.91, according to the USDA. Select-grade prices fell 78 cents per hundred pounds, to $194.80. The total load count was 144. Wholesale pork prices fell 95 cents, to $102.40 a hundred pounds, based on Omaha, Neb., price quotes.

 

(END) Dow Jones Newswires

July 21, 2017 17:23 ET (21:23 GMT)

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