The March issue of Agri Marketing magazine will included focus reports on the Rural Lifestyle consumer and Dairy producers. To schedule your ad, contact Judy Knoll at 636/728-1428 X2002; JudyK@AgriMarketing.com
Comments: Grain and soybean futures collapsed last week with bearish USDA data triggering sharp losses in both the corn and wheat markets. USDA shocked the corn market by adding 230 million bushels to its 2009 crop estimate with the trade anticipating about a 100-million-bushel decrease. Wheat futures plunged despite the lowest winter wheat seedings in 97 years as USDA raised projected U.S. ending stocks by 76 million bushels to a 22-year high and cut projected exports to a 38-year low. Soybean futures came under further pressure from rising South American crop expectations and signs of fading export demand for U.S. soybeans. The low winter wheat seedings also spurred expectations for larger corn and soybean plantings. Livestock futures had a strong week on support from strengthening cash market fundamentals. Strong wholesale meat prices were a key supportive factor as choice beef prices pushed to a 7-1/2 month high and the composite pork cutout hit a 15-1/2 month high. Click on the Brock logo or call 1-800-558-3431 for more info on our services.
