CBOT futures are up strongly on mostly bullish news items.  The weather remains difficult for getting corn planted and for the Plains wheat crop where drought is a problem and now sub-freezing temperatures tonight could damage some of the crop. Wheat and corn futures are also supported by concerns that the Russia-Ukraine situation will get more violent and threaten Ukraine production and eventually its exports.

Cattle futures are trading narrowly mixed.  Feeder futures reached new contract highs.   Live Cattle futures are looking for more signs of which way the beef markets will go. Packers have already given up a lot of margin.

Lean Hog futures are strongly higher, led by the summer contracts.  This rally continues the strength started by last Wednesday’s “bullish key reversal”.  FOB Plant Pork is up about a dollar at midday.

Corn May +6 505; Jly +6 511; Dec +5 504 Bean May +7 1470; Jly +12 1459; Nov +4 1218 Meal May +5 478; Oct +1 385 Oil -3 4207 Wheat May +23 683; Jly +23 691 KC Jly +26 752; MGE +23 732 Oats -3 401 Rice -12 1553

LC Apr +17 14502; Jun +17 13595; Oct unch 13822 FC Apr +45 17995; Aug +22 18270 LH Apr +102 12162; Jun +137 12260; Oct +62 10002 Milk Apr +8 2410; May +44 2194

US$ +.3%

Dow +.8% SP +.9% NAS +1% Tran +.7% VIX -3.2% 16.5

WTI +.2% Brent +1% Gas +.6% NG -1.2% HO +1.3% Eth -1.5%

Gold +.6% Slvr +.2%

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