Tuesday 12th USDA Report

Survey Est.
Corn yield 175.1 vs. 175.5
Soybeans yield 50.5 vs. 50.7
Production
14,446 vs. 14,507
4,156 vs. 4,170
Carry outs
Corn 1.592 vs. 1.702
Soybeans 139 vs. 175

World Stocks should be lowered

Dr. Cordonnier cuts Brazil Beans to 128 mmt vs. 130

Arg. Gov’t talking /meeting to cancel export restrictions on corn??
Arg. Crop Ratings
Soybeans G/E 27% vs. last week 42% (yes 15 pt move down)
Corn G/E 12%

New High closes
March Corn 496.25 vs. 495       

March Beans 1374.75 vs. 1361.50

New High close
July/Nov. beans spread
196.25 vs. 194.25

Spread swing #’s
103.50 gap to a low of 7.50 = 96 =200.50
103.50 gap to a low of 1 = 102.50 = 207
Time will tell if even Higher??

CZ/SX ratio 2.637    5 Week High and a Year High 

Please look at archives for possible res. numbers or targets
BUT this report is BIG

I’ll take a stab at Channels here
April Cattle   Res: 122.20 and support 115.20
April hogs     Res: 76.22 and support 72.12
Weather, Rationing and US Dollar 3 gear drivers

Going to be interesting report Tuesday and market reaction and closes

Be Safe
Scott Capinegro
800-942-1513