Soybean and meal futures were on fire this morning. The highs were set around 8:40 a.m. CST with a 20-cent spike in March/May/July futures on apparent buy-stops above the previous contract high set in September 2012.  After backing down, prices have since traded in a narrow band.  Market support continues to come from strong cash demand for beans and meal as exports from Brazil are slower than usual. Trading activity is moving to the May contract as March goes into “delivery” on Monday.

Wheat futures sold off early but have recovered to narrow losses except in MGE old-crop contracts.   Pressure came from export cancellations and ideas that US wheat is not price competitive.

Corn futures are trading near unchanged but off the day’s lows.  The weekly export sales were very strong for corn.

Nearby cattle and hog futures are soaring as cash prices for live animals and beef/pork are rising.  The beef cutout jumped $2+ yesterday and another $1.50 today and the pork cutout is up more than $2.00/cwt at midday.

April Lean Hog futures are up the $3 limit. There’s no sign of the PED virus going away soon.

Corn Mar -1 455; Jly -1 464; Dec -1 466 Bean Mar +22 1429 (hi 1448); Jly +22 1396; Nov +9 1178 (hi 1182) Meal Mar +6 474; May +8 462; Oct +4 371 Oil +31 4151 (4098-4170) Wheat Mar -2 598; Jly -1 610 (601-12) KC -1 678;  MGE -9 661 Oats +10 517 Rice -1 1560

LC Feb +157 15022; Apr +82 14535; Oct -25 13555 FC Mar +-7 17192; Apr +7 17400; Aug -7 17600 LH Apr +300 10402; Jun +117 10952; Oct -2 9230 Milk Mar +21 2213; Apr +25 2073

US$ -.1%

Dow +.2% SP +.2% NAS +.2% Tran +.2% VIX -1.7% 14.11

WTI -.5% Brent -.7% Gas -1.1% NG -4.7% HO -.6% Eth -.1%

Gold +.4% Slvr +.4%

5-yr -.01 1.49% 10yr -.01 2.65% 30yr -.01 3.61%

KFB 2014 Farm Chemical Price List  - Click HERE   Ordering deadline is Friday, February 28

KENTUCKY CASH GRAIN PRICES – Click Here 

KENTUCKY LIVESTOCK AUCTIONS --  Click Here