CBOT futures closed mixed with corn leading the way higher on growing concerns that planting progress will be very slow in the Corn Belt due to wet soils and a cool and rainy forecast into mid-May (or longer). Cattle futures closed mostly lower, albeit by small amounts.  Lean Hog futures closed sharply higher to LIMIT UP. 

Today’s CBOT closes were much like Monday’s with corn finishing near steady and soybeans and wheat closing around 6 cents lower.  Cattle closed lower with the expiring April LC down $1.02. June LC dropped 0.55 to 114.25, or a $9.50 discount to the April. Lean Hog futures closed lower on weaker pork values and continued selling by the spec longs.

Another bad day at the CME left futures at/near the day’s lows with soybeans, soybean meal and wheat futures hitting new contract lows.  Beyond the nearby April LC contract, cattle futures closed lower after testing the positive side of unchanged.  Lean Hog futures closed moderately lower as the selloff which started a week ago continued.

CBOT futures closed mostly higher after trading to new lows. The reversal-type action was more impressive in corn. Cattle futures closed sharply lower on follow-through selling (funds liquidating) after prices fell below key technical support levels on Wednesday. Lean Hog futures also dropped sharply with the June-December LH contracts locking limit-down ($3.00/cwt).

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More than 150-thousand people are expected at Churchill Downs Saturday for the 145^th running of the Kentucky Derby.  Churchill Downs Communications Manager Darren Rogers talks about the race, the favorites and some special events planned this year to memorialize the late John Asher, who served as Vice-President of Racing Communications until his untimely death last summer.

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Environmental Protection Agency Administrator Andrew Wheeler says proper and fair implementation of the Waters of the US rule is one of three priorities in 2019.  Wheeler says the EPA will be working on a standardized rule, fair implementation and making sure all inspectors are on the same page this year.

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The Kentucky Young Farmers Organizations continues to remain strong in spite of budget cuts to higher education across the state.  State Secretary Ashley Johnson talks about the strength of the organization, the annual meeting, the summer farm tour and the members.

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