HIGHLIGHTS
· MARKET TREND: CK, Down $.0050; SK, Down $.0150; WK, Up $.0325; KWK, Up $.05
· Global markets are mostly higher to begin the week. ASIA: The Nikkei lost 1.25% but Shanghai gained 2.2% and the Hang Seng crept .06% higher. EUROPE: Started weaker bur are now a little firmer with the CAC 40 up .06%; the FTSE is .16% to the plus side and the DAX is .94% higher: U.S.: Futures point to a positive opening with the DOW leaning 31 higher; the NAS is +9.50 and the S&P, +3.50. Fed comments are the focus for today. EXTERNALS: Gold, -$8.80; crude oil, -$.30 and the $ Index, +.055 @ 95.22
· Weather: Dry conditions are forecast for the U.S. Central and Southern Plains today into Tuesday. Some light showers could develop across northwest Kansas and points north into South Dakota on Wednesday with heaviest amounts across western Nebraska and northeast Colorado. Dry weather is also forecast across the Delta and South through tomorrow, which should help with additional drying following recent heavy rain. For the Midwest, dry weather if forecast throughTuesday, although rain and snow may develop Wednesday north and northwest
· CK, Down $.0050 @ $3.6650; CN, Down $.0075 @ $3.71. The funds closed out the week selling 2 K
· SK, Down $.0150 @ $8.96; SN, Down $.02 @ $9.0225. Funds: even on SB & SBM on Friday; sold 2 K SBO
· WK, Up $.0325 @ $4.6625; WN, Up $.0325 @ $4.7350. The funds bought 2 K on Friday
CORN/SORGHUM       ;
· ATI Research: U.S. 2015/16 corn reported under loan as of March 17 was 600.1 mbu. This is up 151.0 mbu (34%) from the 449.1 mbu of 2014/15 corn reported under loan at this time last year
· December 2016 corn futures traded to a high of $3.90 for the week ending Mach 18, which is the highest price since Feb. 22. For the week, December futures ended $0.02 ¾ higher and settled Friday at $3.85 ½
· Export Inspections released at 10 AM CST; Corn, 41.6 needed; 31.7 last week; Sorghum, 4.7 needed; 5.9 last week
· Commitment of Traders report: Non-Commercial long corn futures only positions decrease 7,059 contracts
SOYBEANS/WHEAT
· ATI Research: U.S. 2015/16 soybeans reported under loan as of March 17 was 89.5 mbu. This is up 40.3 mbu (82%) from the 49.1 mbu of 2014/15 soybeans reported under loan at this time last year
· Export Inspections released at 10 AM CST; Soybeans, 8.8 needed; 26.3 last week
· Commitment of Traders report: Non-Commercial long soybean futures only positions increase 35,372 contracts
· November 2016 soybean futures closed at $9.09 ¾ Friday, the highest settlement price for the contract since Dec. 4
· Export Inspections released at 10 AM CST; Wheat, 18.1 needed; 14.9 last week
· Commitment of Traders report: Non-Commercial long CBOT wheat futures only positions decrease 9,745 contracts
ENERGY
· Mixed: CLJ16, -$0.30, $39.14; EBK, -$0.09; EBK-CLK, +$1.950, +$.20; RBJ, +$.0114; NGJ, -0.003; HOJ, +$.0002
· Cash ethanol markets were weaker on Friday: Chicago declined 2; New York and Tampa down 1 ½; Gulf off 1 ¾; Dallas eased 1; and LA was ½ lower at $1.54 ½ per gallon
· Ethanol RINs increased: 2014’s, 2015’s and 2016’s were all ½ higher at 73 ranging from 72 ¾-73 ¼
· The April RBOB/April Ethanol spread moved to a carry, at +$.0023 on Friday
LIVESTOCK/POULTRY  
· Choice boxed beef values fell $2.83 on Friday, but at $231.81 are still $7.76 higher vs. last week
· Cattle on Feed: Mar 1 on feed, 100.8% (100.3% avg. est); Feb place, 110.3% (108.5%); Feb Marketed, 104.9% (104.6%)
· USDA mandatory pork carcass cutout firmed 45-cents on Friday, but at $75.91 is still 23-cents lower vs. a week ago
· CME Lean Hog Index was $0.17 lower at $66.61. April futures were $0.15 higher and are $4.84 above the index
Sources: Bloomberg, Dow Jones, AP