Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday, corn is +1, soybeans are +5, Chicago wheat is -1, KC wheat is -1, Minneapolis wheat -1, Apr feeders -.100, Apr fat cattle -.100, Apr hogs -.125.
* USDA export sales this morning had corn at 31.8 mln bushels for current marketing year vs. expected range of 31.4-43.3 mln bushels. Soybeans were at 15.1 mln bushels vs. expected range of 12.6-23.9 mln bushels. Wheat exports were at 13.6 mln bushels vs. the expected range of 9.2-14.7. Soymeal exports were the story this morning and double expectations and provided some strength in beans today.
* Resistance levels in corn and beans, weaker energy prices, and a stronger dollar holding down the potential for a bigger rally for now.
* Bids have strengthened up at the gulf by +.02 for corn, down -.02 for soybeans.

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