CBOT futures closed higher as traders position for tomorrow’s USDA report on supply-demand forecasts. Wheat, soybeans and meal posted strong gains today, undoing some of the large losses in last week’s trading. After tomorrow’s report which is not likely to have any surprises, traders will focus on the March 31st Prospective Plantings Report.

The average trade guesses for 2014/15 Ending Stocks are: Corn: 1.826 billion Soybean: 376 million Wheat: 699 million

Cattle futures closed lower after testing the upside when markets opened this morning. The markets look to pause after last week’s stronger prices. Feedlots will ask for more money and buyers will wait until late-week to see where the boxed beef market goes. Today’s beef market was mixed. Choice down 0.89 at 247.59; Select up 1.36 at 245.75.

Lean Hog futures finished the day mixed as hog supplies remain burdensome. The market needs exports to improve (January was down 20% y/y) and for Spring to arrive to increase grilling. FOB Plant Pork closed down .07 at 68.75. Picnics dropped nearly 10 pct.

KFB Crop Insurance Workshop     Rescheduled for March 17      1:30 pm to 3:30 pm EDT Shelby Co. Farm Bureau office

Corn May +3 389; Jly +2 396; Dec +2 413 (410-15)

Bean May +8 993; Jly +8 998; Nov +7 972 (965-76) Meal May +6 334; Oct +5 324 Oil -28 3100 Wheat May +7 490; Jly +8 494 (488-99) KC +8 530; MGE +4 561 Oats +3 286 Rice +6 1053

LC Apr -65 15400; Jun -95 14615; Oct -15 14752 FC Mar -2 20970; May -37 20707; Aug -47 20865 LH Apr -5 6607; Jun -75 7930; Oct +22 7035 Milk Mar unch 1542; Apr -15 1535

US$ steady

Dow +139 17996 SP +8 2079 NAS +15 4942 Tran +21 8928 VIX -.14 15.06

WTI +39 5000 Brent -122 5851 Gas -1 187 NG -16 268 HO -3 184 Eth +1 148 Gold +1 1165 Slvr -7 1571

2-yr -.027 0.696% 5-yr -.045 1.651% 10yr -.047 2.193% 30yr -.039 2.800% Lexington Auction Weighted Average Report for 03/09/2015 

Receipts: 597 Last Monday: 539 Year Ago: 1615 Compared to last week middleweight steers 400-600 lbs sold 10.00 to 20.00 higher with very good demand on an active market with many good quality offerings on the market; over 600 lbs sold firm with good demand.. Middleweight heifers sold 5.00 to 7.00 higher with very good demand on an active market with many good quality offerings; over 600 lbs sold steady to firm with good demand. Very good demand for weaned offerings and calves in thin-flesh. Yearling steers and heifers untested. Slaughter cows and Slaughter bulls sold steady with very good demand.

This week’s supply included 30 percent that weighed over 600 lbs. 38 percent steers and 19 percent bull calves 10 percent Holstein Steers and 29 percent heifers of total recorded feeder supply. 36 head of slaughter cows with 100 percent going to slaughter. 7 head of slaughter bulls with 100 percent going to slaughter.

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