The May issue of Agri Marketing will feature salutes to NAMA's 2010 Ag Leaders, ag's largest agencies and an update on Market Research. For info, contact Judy Knoll at 636/728-1428 x2002; JudyK@AgriMarketing.com
Comments: Corn and soybean futures rallied on pre-USDA report short covering to start the week, but turned lower under pressure from USDA's bearish March 1 stocks estimates, which implied a larger U.S. corn carryout and adequate soybean stocks. USDA's Prospective Plantings Report also confirmed expectations that producers intend to plant more corn and soybean acres this year. Old-crop soybean futures felt added pressure from news of a settlement in an Argentine port workers strike. Wheat futures turned lower despite a neutral-to-supportive March 1 stocks amid ideas U.S. wheat stocks will remain ample to meet demand for some time to come. Lean hog futures rallied sharply on support from USDA's bullish hog inventory report and a surge in cash hog prices. Live cattle futures were also boosted by firm cash fundamentals. Cotton futures rallied on concerns about tight old-crop supplies after USDA pegged cotton planting intentions in line with expectations. Click on the Brock logo or call 1-800-558-3431 for more info on our services.
