CBOT futures closed mixed. On a percentage basis, soybean meal led the market higher followed by corn futures. Soybean futures rallied until about 11 am CT with gains over 20 cents but prices drifted lower into the closing bell. A low planted soybean acreage forecast for 2015 by USDA at its Ag Outlook Forum encouraged buying. Strong demand for cash soybean meal also lifted the market. Technically, the soybean meal and soybean markets look strong; corn futures sit just below chart resistance at the top of the sideways trading channel, or as some analysts see it, the neckline to a bullish head-and-shoulders bottom.

Cattle futures closed slightly lower in fairly narrow trading ranges. Yesterday’s optimism on the cash cattle market may have faded some as the boxed beef market lost momentum. Plus we have the monthly Cattle on Feed Report tomorrow afternoon. Choice beef closed up .14 at 239.92 and Select ended up .86 at 236.71.

Lean Hog futures closed higher with large gains in the nearby contracts – April hit LIMIT UP in late day electronic trading. With the recent stability in LH futures and cash markets, traders are covering some short positions and hoping this is the bottom in LH futures. FOB Plant Pork dropped .12 to 72.32.

Corn Mar +6 390; Jly +6 405; Dec +5 420 Bean Mar +11 1007; Jly +11 1015; Nov +10 986 (974-94) Meal Mar +9 347; Oct +6 326 Oil -18 3183 Wheat Mar unch 528; Jly -4 522 (521-31) KC -3 544; MGE -8 574 Oats +3 277 Rice -7 1080

LC Feb -25 15892; Apr -112 15150; Oct -27 14490 FC Mar -55 20255; May -45 20090; Aug -30 20365 LH Apr +282 6705; Jun +220 8145; Oct +117 6990 Milk Mar -40 1570; Apr -38 1556

US$ +.35%

Dow -44 17986 SP -2 2097 NAS +18 4925 Tran -4 9077 VIX -.16 15.29

WTI -69 5145 Brent -36 6017 Gas +4 162 NG unch 283 HO +3 199 Eth +2 146 Gold +7 1207 Slvr +9 1635

2-yr +.012 0.617% 5-yr +.050 1.571% 10yr +.047 2.115% 30yr +.042 2.737%

Broiler-Type Eggs Set in the United States Up 3 Percent Hatcheries in the United States weekly program set 214 million eggs in incubators during the week ending February 14, 2015, up 3 percent from a year ago.

Broiler-Type Chicks Placed in the United States Up 2 Percent Broiler growers in the United States weekly program placed 174 million chicks for meat production during the week ending February 14, 2015, up 2 percent from a year ago. Cumulative placements from the week ending January 10, 2015 through February 14, 2015 for the United States were 1.05 billion. Cumulative placements were up 3 percent from the same period a year earlier.

KENTUCKY CASH GRAIN PRICES – Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here 

Subscribe to “Between the Rows” e-newsletter from the KFB Commodity Division by Clicking Here.