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 up 2 3/4 cents per bushel, May soybeans are up 1/2 cent, and May KC wheat is down 7 1/4 cents.
Limit losses across all livestock markets Wednesday has brought bearish movement in the complex heading into Thursday morning. Although limited outside market support developed overnight, the concern of demand weakness for meat products weighs heavy on livestock futures.