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Hedge Plus Reports

Selected grain contracts at settlement...

Soybeans were lifted by analyst reductions for Brazil while corn and wheat did very little without a fresh catalyst...

May CORN: down 1¾ cents to $4.38½

May SOYBEANS: up 5½ cents to $11.55¼

May WHEAT: down ½ cent to $5.73¼

Feed grain markets opened lower this morning on tariff uncertainty from President Trump's new global tariffs but soybeans showed strength at the open even after a weak inspections report. Wheat was softer on the forecast for rain moving in to the Southern Plains and Midwest
 
Wheat basis held steady in the Plains on Monday as futures fell. KC protein premiums down 5 cents for 12.6% and 2 cents for 12.8-13%, other grades unchanged. Precipitation is expected soon to relieve Southwest Plains wheat dryness and millfeed, flour mill basis steady
 
Corn Gulf barge basis inched up Monday with February at 102 cents over March futures up 1 cent and March steady at 100 cents over. Midwest elevator and processor basis was steady to mixed, rising at Cedar Rapids IA and Blair NE but falling at Seneca IL and Linden
 
Soybean Gulf barge basis inched up Monday to 107 cents over March futures, up 1 cent. Midwest elevator and processor basis was steady to higher, rising 5 cents at Toledo river terminal and processors in Decatur and Cedar Rapids
 
U.S. and Ukrainian corn prices are up $1/MT and prices from Argentina are mostly unchanged while soybean prices from the U.S. and Argentina were $2/MT lower and Brazil was unchanged. U.S. winter wheat prices moved $4/MT higher while there rest were mostly unchanged
 
 
S Plains/Midwest wetter in week-2 outlook, S Texas is dry for 10 days. E Argentina dry next 7-9 days with Buenos Aires crop stress building, showers return early March. Heavy rain in E Brazil with flooding risk, showers in south slow drying and China gets rain for wheat areas
 
At the pause...
 
Corn traded mostly unchanged and in a narrow range, soybeans were lower on weak export inspections and wheat was mostly steady with little change overnight
 
May CORN down ¾ cent at $4.39½
May SOYBEANS down 2¾ cents at $11.47
May WHEAT up 1¼ cents at 5.75
 
Watch for steady-to-lower meat stocks supporting beef and pork prices along with a modest bump in consumer confidence following January's weaker numbers. The State of the Union speech is expected to signal easing export pressure on grains while lifting livestock outlooks
 
Steady U.S. export demand and Algeria’s fresh tender support prices for now though abundant global supplies from Argentina’s record harvest and a larger Russian crop forecast along with an improving moisture outlook for the U.S. southern Plains look to be capping the upside
 

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