Corn ends the day up 3¢. Thursday, April 4, 2024
May corn ended the day up 3½¢.
May soybeans are down 2¼¢.
CBOT wheat is up slightly. KC wheat is down 3¢. Minneapolis wheat is up 6¾.
“The chilly and damp weather that has smothered much of the Midwest recently is set to give way to warmer and drier conditions starting next week, and NOAA’s [National Oceanic and Atmospheric Administration] extended forecast shows what should be ideal conditions by mid-April, with above-average temperatures and below-normal rainfall in the April 11-17 timeframe across the Midwest,” said The Brock Report at midday.
“ … Although USDA did report a fresh corn export sale this morning of 152,404 metric tons to Mexico for the current marketing year, weekly sales reported this morning were lousy. USDA reported sales in the week ended March 28 at a net 37.7 million bushels, toward the low end of trade expectations that ran 31.5-55.0 million and down from the previous week’s sales of 52.5 million.
“ … Net weekly U.S. soybean export sales came in at just 7.1 million bushels, below trade expectations that ran 9.0-25.5 million and down from the previous week’s sales of 14.1 million bushels.”
Livestock ended the day in the green. Live cattle are up 25¢. Feeder cattle are up $1.30. Lean hogs are up 8¢.
Crude oil is up $1.21.
S&P 500 futures are down 64 points. Dow futures are down 529 points.
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