Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is -4, soybeans are -4, Chicago wheat is +1, KC wheat is +1, Minneapolis wheat even, Mar feeders +1.200, Apr fat cattle +1.500, Apr hogs -.075.
* USDA Outlook Forum corn acreage up 2.0 mln acres over last year at 90.0. US soybean acreage at 82.5 mln acres, 200k less than last year.
* USDA Outlook Forum also expected the price forecast at 3.45/bu for corn and US average price for soybeans at 8.50. These are actually higher than by a little bit than last year.
* Export sales this morning had corn at 36.8 mln bushels and within expectations, soybeans were at 12.1 mln bushels, bottom end of expectations, and wheat were at 15.1 mln bushels and at top end of expectations.
* Cattle markets gaining some momentum today on a technical buy signal executing.

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