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Hedge Plus Reports

Corn prices are tightening in anticipation of the USDA reports on Monday but we are about 7 cents higher for the week following strength in the wheat and bean markets. Some parts of corn country in South America are a little dry and La Nina could have an impact before it's gone
 

With the January USDA supply and demand report looming on Monday, the average trade estimate for corn yield is 184, with 52.7 for soybeans. That's essentially what the market is trading on right now. We expect the adjustments downward to be greater

Gains were posted in the hog markets today but still plenty of doubt regarding their current upside...

February lean hogs added $1.07½ to finish up on the day at $85.87½

Selected grain contracts at settlement...

No momentum carried over from yesterday with grains. These markets desperately await new data coming from the USDA on Monday...

Mar CORN: down ¾ cent to $4.46

Mar SOYBEANS: down 5¾ cents to $10.61¼

Mar WHEAT: unchanged at $5.18

Prices are mixed at midday as soybeans bounced off the 200 day MA and headed lower following the outside markets. Corn prices are 2 cents higher than at the open and wheat is up about 4 cents with both looking happy to continue the upward trend for now
 
HRW wheat basis remains firm while basis fluctuates with supplies based on your location
 
Soybean basis at the Gulf was higher on the new Chinese demand while basis across the Midwest was seen as mostly flat also due to slow sales
 
Corn basis at the Gulf was firm on Wednesday on good demand while basis across the Midwest remains flat on slow farmers sales
 
The U.S. corn price is down $1/MT from yesterday while Argentina and Ukrainian prices moved $7 and $3/MT higher respectively and Brazil is back in the market. U.S. bean prices moved $13/MT higher while the others came down about $5/MT. U.S. wheat was mixed, others moved higher
 
Strong storms moving from the Southern Plains across the Delta will bring heavy rain to the Tennessee River Valley and snow for the upper Midwest. Storms across Europe should help alleviate drought in France while southern Argentina stays dry. Palm oil countries get heavy rain
 

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