Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is +1, soybeans +10, Chicago wheat is -2, KC wheat is even, Minneapolis wheat -1, Mar feeders -1.000, Apr fat cattle -1.800, Apr hogs +1.200.
* USDA Export sales this morning were 15.9 mln bushels for corn and well below the expected range of 30 to 50 mln bushels. Soybeans were seen at 24.5 mln bushels, slightly above the expected range. Wheat sales were 9.7 mln bushels and in the middle of the expected range.
* USDA reported a private sale of 6 mln bushels of US corn sold to unknown destination for the 15/16 MY.
* A U.S. Climate Prediction Center statement suggested the transition to neutral conditions from the El Nino is likely to evolve late spring, early summer in Northern Hemisphere.
* Bids for cattle have slipped a little today by packers to $133-132 in Texas and Kansas, there was some small trade early at $134.

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