Old-crop corn and soybeans are trading higher as U.S. supplies remain tight despite the global availability of South American crops. The higher World ending stocks estimates posted yesterday seem to be less important. A weaker US dollar is also supportive for exports. Today’s export sales report was neutral corn and supportive for soybeans/meal and wheat.

Live Cattle futures are slightly higher, correcting some of the sharp losses posted yesterday on lower cash prices. That lower price of $127/cwt doesn’t appear to be getting any follow-through selling today. The winter storm should slow weight gains and movement in the short run.

Lean Hog futures are higher again as the cash hog market firms.

A better than expected drop in jobless claims is boosting the US equity markets but the dollar is weaker and Treasury rates are off a point.

 Corn May +5 654; Jly +3.5 636; Dec unch 543 Bean may +7.5 1400; Jly unch 1368; Nov -9.5 1228   Meal may +2.5 395.5; Oct -2.5 339.5   Oil -13 4990 Wheat may +4 701; Jly +3 706   KC Jly +9 747; MGE +5 787 Oats +4 366 Rice +15 1582

LC Apr +40 12567; Aug +70 12145; Dec +30 12695 FC Apr -50 14000; May +2 14235; Aug +15 14932 LH Apr +55 8177; Jun +42 8992; Oct +5 8125 Milk Apr +7 1759; May +23 1854

US$ -.4% Dow +.4% SP +.4% NAS steady Tran +.2%   VIX +1.5% 12.55

WTI -1.5% Brent -1.5% Gas -1.3% NG +1.4% HO -1.4% Eth +.6%

Gold +.4% Slvr +.1%

5-yr -.01 0.72% 10yr -.01 1.79% 30yr -.01 3.00%

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