Brownfield Commodity Market Reporter John Perkins has your look at what sent soybeans and wheat lower and why corn, cattle, and hogs were mixed.

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- May corn $6.5275 down $0.01

- May soybeans $15.11 down $0.065

- May soybean meal $450.60 down $6.80

- May soybean oil 55.22 down 52 points

- May Chicago wheat $6.82 down $0.095

- June live cattle $160.30 up $0.07

- June lean hogs $88.37 down $1.20

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Growing specialty crops, like food-grade soybeans, can create additional value for Ohio soybean growers. 

In this Managing for Profit Voice of Soy, Madison Layman with the Ohio Soybean Council talks about why Ohio is positioned to be a leader in food-grade soybeans and the opportunities available to Ohio soybean farmers who specialize in soybeans.

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Soybeans have had back-to-back record year for exports and identifying new markets are a critical step in adding value to US soybeans.

In this episode learn more about how checkoff dollars are helping identify and strengthen trade relationships in countries around the world.

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The planting season will start for many Michigan farmers before the end of April. In this Pods for Profit, Michigan Soybean Committee research director Mark Seamon shares how early planting is benefiting yields, and more importantly time management.

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Brownfield Commodity Market Reporter John Perkins has your look at what sent soybeans, corn, wheat, cattle, and hogs lower.

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- May corn $6.5375 down $0.04

- May soybeans $15.175 down $0.045

- May soybean meal $457.40 down $6.80

- May soybean oil 55.74 down 94 points

- May Chicago wheat $6.915 down $0.02

- June live cattle $160.22 down $1.00

- April lean hogs $72.22 down $2.30

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This week Illinois Soybean Association Trade and Export Manager Eileen Urish highlights how checkoff funding helps expand exports for US pork. She talks about partnerships on the state and national level, the connection between soy and pork and the valuable return to Illinois soybean farmers. 

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This week, Will and Ben review new planting and production estimates in the U.S. and South America.

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Market recap (changes on week):

- May corn up $.09 at $6.57

- December 2023 corn down $.02 at $5.67

- May soybeans up $.70 at $15.22

- November soybeans up $.37 at $13.32

- May soybean oil up 2.23 cents at 56.68 cents/lb

- May soybean meal up $11.80 at $464.20/short ton

- May wheat down $.08 at $6.93

- July wheat down $.06 at $7.06

- June WTI Crude Oil up $7.42 at $80.45/barrel

Weekly highlights:

- US stocks of crude oil, gasoline and ethanol all fell on the most recent week with domestic gasoline use up 6% over the most recent two-week period. Along with these changes ethanol production was up just slightly for the week.

- Ag Export sales were all within expectations last week- soybeans, grain sorghum, and wheat were all up week over week while corn was down from the extremely strong week the week prior.

- Last week's 1st quarter hogs and pigs report- showed fewer grain consuming hogs over the next two quarters compared to last year.

- March 1 grain and oilseed stocks report came in below trade expectations and bullish for corn and soybeans while above expectations and bearish for wheat.

- USDA’s planting intentions report showed farmers intend to plant larger corn, soybean, and wheat acres in 2023 compared to 2022. Everything was within trader expectations, but corn and wheat were at the bearish end of expectations while soybeans were at the bullish end.

- Private estimates for Brazil’s corn crop

- Open interest of futures and options positions decreased 1% for corn and increased 2.2% for soybeans. Management money traders bought back some net contracts of corn decreasing the overall net short, traders decreased the net long in soybeans, and increased the net short in Chicago wheats. Managed money traders also decreased their long holdings of soybean meal contracts.

- It was announced over the weekend that Argentina will start a new “soy dollar” preferential exchange rate ag exports starting Monday, April 3. It is expected to last 90 days.

- Ag export inspections were bullish for corn, neutral for soybeans, and bearish for combined US wheat.

- USDA’s first crop progress report of the season showed 2% of the nation’s corn crop planted (matching average), 4% of cotton acres planted (down from 5%), and 17% of rice acres planted (up from 14% on average).

- The progress report also showed 28% of US winter wheat rated as good to excellent- down from 30% last year.

Topics:

- Market recap

- USDA's planting intentions up over last year

- Argentina opens new program to encourage soybean sales

- Brazilian corn production

- Reports to watch

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In this episode of Missouri Corn Talk, Missouri Corn CEO Bradley Schad talks about the importance of building and strengthening relationships in building demand for corn. For more information, visit https://mocorn.org/. 

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Brownfield Commodity Market Reporter John Perkins has your look at why soybeans were up, how corn, wheat, and hogs finished mixed, and what send cattle lower.

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- May corn $6.5775 down $0.0275

- May soybeans $15.22 up $0.165

- May soybean meal $464.20 down $1.80

- May soybean oil 56.68 up 119 points

- May Chicago wheat $6.935 up $0.0125

- April live cattle $168.12 down $0.22

- April lean hogs $74.52 down $0.72

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Corteva Agriscience market development specialist Joe Bolte says controlling weeds early in the growing season can have a major impact on yield potential.

He tells Brownfield a good rule of thumb is the smaller the weed is, the easier it is to manage. And he says Corteva offers several solutions for burndown and preemergence passes.

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