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Midday Update

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Midday Update

* At midday, corn is +2, soybeans are +8, Chicago wheat is +4, KC wheat is +3, Minneapolis wheat is +3, Mar feeders +.100, Feb fat cattle +.225, Feb hogs -.950.
* A modest breakout of corn and beans providing some technical buying supporting prices and encouraging funds to exit more short positions.
* Tyson company spokesperson said the winter storm Kayla had forced the company to close three pork processing and one beef processing plant temporarily.
* Stats Canada will release their crop stockpiles date for Dec 31 on this Thursday. Analysts are forecasting all wheat stocks at 21.8 mln mt, off from the year ago date when 25.64 mln mt were in storage..
* News wire that CEO of ADM in conference call to investors saying India and China will be the drivers of ethanol export growth.

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