MAR CORN

(Click on image to enlarge)

Mar Corn corrected 30 cents (520-490) due to renewed 25% tariffs against Mexico & Canada being implemented Mar 4 & also anticipation of the US Annual Ag Forum Thur-Fri set to announce 3 million more acres going in this year! However, the mkt became oversold & is attempting to correct – mindful of the strong export demand, solid ethanol usage & tight global stocks!

MAR BEANS

(Click on image to enlarge)

A record Brazilian Crop, substandard exports & increased tariffs have combined to keep Mar Beans in a 30 cent congestion area – about 60 cents off its 2025 highs! However the mkt may receive some support from continued dryness in Argentina, a decrease in the 2025 bean acres – to be reported tomorrow in the USDA annual AG Forum & a potential meeting between President Trump & China’s President Xi!

MAR WHT

(Click on image to enlarge)

Mar Wht broken 45 cents (610-565) – along with Mar Corn but for different reasons! Mostly milder temps in the Plains have removed the Winterkill risk – along with adequate snow cover to protect the emergent crop! As well, there are strong indications that the Russian-Ukraine war is coming to an end – which helped reduce some the war premium in the price structure! Finally the Annual Forum Thur-Fri may show higher stocks!

APL CAT

(Click on image to enlarge)

April Cattle has corrected $13 (207-194) since the end of January due to slumping demand & falling cash prices! The mkt finally reached a level that stifled demand – not surprising since it was from record levels – with the pork alternative much cheaper! But the mkt quickly became oversold & another screw-worm incident at the border may impede Mexican exports – helping the mkt to correct!

APL HOGS

(Click on image to enlarge)

From the above chart, one can see the roller coaster ride April Hogs have been on during the month of Feb – first rallying $8 (86-94) – then taking it all back in the final 2 weeks of the month! Slack demand, falling cash & tariff fears all contributed to the price collapse! However, the mkt quickly became oversold as approached its Feb lows – & is correcting today! Both Apl Hogs & Cattle have fallen sufficiently off their recent highs to attract some solid demand going into March!

More By This Author: