Wednesday, April 1, 2020 12:20PM CDT
Sale barns and auctioneers continue to operate during the COVID-19 pandemic, but how they operate is considerably different. Large crowds usually associated with these sales have been replaced with just buyers and auction staff, and in some cases, the entire auction has been moved to an online setting.
Wednesday, April 1, 2020 12:15PM CDT
USDA's Prospective Plantings and March 1 Grain Stocks reports featured a larger-than-expected increase in corn planting intentions and the lowest all-wheat plantings in history. The market reaction was subdued with corn slightly lower and beans and wheat higher, as they were prior to the report. Also notable was March 1 corn stocks coming in nearly 200 million bushels below the pre-report estimate.
May corn is down 1 1/2 cents per bushel, May soybeans are down 10 1/4 cents, and May KC wheat is down 4 3/4 cents.
Traders enter the month of April and second quarter amidst volatility in futures and meat values as traders come away from end of the month positioning opportunities Tuesday. Overnight outside market pressure is expected to carry increased market weakness early Wednesday.