With outside markets settling-down after lunchtime in Chicago, the grains were able to trade

3-9-10

GLOBAL COMMODITY ANALYTICS & CONSULTING LLC MID-DAY GRAIN UPDATE:

GOOD DAY EVERYBODY, HERE’S YOUR CLOSING GRAIN COMMENTS FOR THIS TUESDAY:

• With outside markets settling-down after lunchtime in Chicago, the grains were able to trade more of a pre-report positioning type trade as we closed-out Tuesday’s trade. While the corn and wheat continued to weaken, buying picked-up in the soy complex, with both beans and meal working back to near steady on the day. Bull-spreading looked active, and this likely added to the supportive bean tone. Gulf price support in beans also helped offset the earlier session weakness in the meal I suspect.

• Helping the soy complex was the continued nervousness surrounding USDA’s numbers on Wednesday, but also helping seemed to be the fact that the Dollar gave back much of its gains..and this in turn allowed the crude and gold to cut losses, and also helped the equity markets turn higher as the grain session closed.

• While technical support held nicely in the bean complex, we did see the Dec. Corn slip below $3.98—we’ll see if the settlements get us back above this level.

• On the close Tuesday, Corn Down 5-6; Beans Steady to Down 4; and Wheat Closed 5-6 Lower on the Day.

• Don’t forget the USDA Supply-Demand Report is at 8:30 Eastern Time on Wednesday.

GOOD DAY EVERYBODY, HERE’S YOUR CLOSING LIVESTOCK COMMENTS FOR THIS TUESDAY:

• Even though the difference between bids and offers continues to be $4-5 Dollars, futures traders were optimistic on Tuesday that cash movement would pick-up by mid-week. While this was the major driver in cattle, the unwinding of bear-spreads was the major feature in the hog complex. Pork cut-out prices continued to weaken, as did sow prices and these two factors seemed to keep pressure on the back-end. But a resumption of pork exports to Russia seemed to add to the support in the front-end.

• On the close, Hogs Finished Lower to Sharply Lower, with April Down 35 But Summer Months Down a Dollar; While Cattle Closed 25 Higher in Fats and 5 Cents Higher in Feeders.

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The information above is not meant to be advice to buy or sell futures or options. Copyright, 2009 Global Commodity Analytics & Consulting LLC