The draw is out, the morning line odds are in, and two horses with local ties are the two favorites for the 138th Kentucky Derby on Saturday. Union Rags, broken by Eddie Woods in Ocala, drew post number four and has winning odds of 9-2. But all the horses will be chasing morning line favorite Bodemeister, who spent time with the McKathan Brothers in Citra and is the 4-1 favorite and will race from post number six.