CBOT futures are trading mixed as there’s a lack of significant news to drive prices any one way. Weather forecasts are closely watched for signs that corn will begin to be planted. The bullish soybean meal vs soybean oil price action is unwinding some today, helped by stronger energy futures markets.

Options on May CBOT futures end trading on Friday.

Cattle futures are trading strongly higher as markets anticipate improved fed cattle prices and traders cover short positions in Feeder Cattle futures. The May contract has bounced $4/cwt off the lows set Monday morning.

April Feeder Cattle futures and options end trading tomorrow.

Lean Hog futures are also trading higher on spillover support from cattle futures and ideas that warmer weather will improve consumption soon. The Pork Cutout has gained this week. But LH futures are already at a significant premium to the present cash market.

Corn May +2 640; Jly +4.5 618.5; Dec +2 525 Bean May -2 1418; Jly -7.5 1351; Nov -5 1192   Meal May -3 409; Oct -3 333   Oil +51 4908 Wheat May -6 692; Jly -4.5 691; Dec -5 712   KC Jly unch 738; MGE unch 801 Oats unch 390 Rice -4 1502

LC Apr +70 12690; Jun +110 12192; Dec +102 12727 FC Apr +5 13380; May +165 14125; Aug +250 15062 LH May +72 8855; Jly +112 9115; Oct +77 8097 Milk May +3 1865; Jun -5 1910

US$ unch Dow -.1% SP unch NAS -.2% Tran +.6%   VIX +1% 13.61

WTI +1.5% Brent +.9% Gas +.6% NG -1.3% HO +.6% Eth -.6%

Gold +1% Slvr +.2%

5-yr -.01 0.69% 10yr unch 1.70% 30yr -.01 2.90%

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