CORN
- May down 4 @ 5.85 & Dec down 1 @ 5.11
- Prices mixed today but over a nice finish for the week
- Brazil corn still at risk
- Slow start the US growing season in focus
- Ethanol margins should remains stable as more drivers hit the road
- Tight supplies & demand continue to keep prices strong
- O/I: Lost 34,877 positions in May futures
SOYBEANS
- May up 8 @ 14.26 & Nov up 5 @ 12.74
- Bean meal & oil helping support prices today
- NOPA crush little short of expectations however still strong numbers
- S. American harvest continuing – Argentina stable short-term
- Nov making valiant effort to challenge high of $12.85 – up to 12.82 today
- O/I: Lost 10,219 positions in May futures
WHEAT
- May down 4 @ 6.49, May KC down 1 @ 6.06, May MNPLS up 1 @ 6.64
- Concerns over US cold & dry weather offsetting rains in the plains for now
- Dollar continues to falter – low today so far 91.48
- Paris milling futures put in another contract high today
- Tensions still rise in Russia/Ukraine – need close monitoring in the next week
- O/I: Lost 10,696 positions in May wheat & lost 4839 positions in KC May wheat
CATTLE
- June LC up .10 @ 119.75 & May FC down .17 @ 144.25
- Cash cattle traded higher – packers still need cattle and willing to pay for it
- Boxed beef indicates demand remains strong
- Today’s slaughter est. at 114K head
- Cash trade late Wednesday at $121 – expected higher next week
- Cash index for April 14; @ 142.30
- Open interest lost 1,061 for June futures & lost 298 for May FC
HOGS
- June Hogs down 1.17 @ 103.50 & June pork cutout up .17 ! 11.60
- Cash hogs higher with port cutouts very strong
- Marketing year low exports still sending shock through futures
- Hog slaughter estimated at 480K head
- Cash lean index for April 13; up .32 @ 102.70
- O/I: Gained 95 for June hogs & June pork cutout lost 4 positions