Grains mixed this morning of Wednesday, March 27, 2024 in the United States

Wheat

Other Frozen Pork Cuts

Published Mar 28, 2024

Tridge summary

Grain and soybean futures are showing varied trends in the market, with May corn and soybeans experiencing declines, whereas wheat futures are mixed. These movements are influenced by several factors including technical aspects, U.S. and South American supply levels, and export demand. The market is also closely watching the upcoming USDA reports on prospective plantings and grain stocks, which could affect future acreage expectations for key crops. In the livestock sector, futures are mixed with cattle seeing a downturn while lean hogs gain. Meanwhile, crude oil prices have dropped, but S&P 500 and Dow futures are on the rise, reflecting a mixed sentiment in the broader financial markets.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

May corn is down 3½¢. May soybeans are down 5¼¢. CBOT wheat is up a penny. KC wheat is up less than a penny. Minneapolis wheat is up 2¾¢. “Grain and soybean futures have come under further pressure in overnight trade from technical follow-through to Tuesday’s weak closes and ideas of ample U.S. supplies amid slack export demand,” said The Brock Report this morning prior to the 8:30 a.m. open. “Soybean futures continue to feel pressure from large South American supplies and prospects for U.S. soybean acres to rise this year. Large Russian wheat supplies continue to weigh on wheat futures.” Tomorrow at 11 a.m. CDT, USDA is expected to release the annual Prospective Plantings report, which contains the agency’s expectations for how many corn, soybean, and wheat acres will be planted for 2024. The quarterly Grain Stocks report is also expected tomorrow. Live cattle are down 48¢. Feeder cattle are down 35¢. Lean hogs are up 55¢. ...

Source: UkrAgroConsult