HIGHLIGHTS
· Market Trend: Corn, CH, Steady, CK, off ¼; Soybeans, Up 2; Wheat, WH, Steady, WK, Up 3-4
· “Stable” is said to describe the Asian markets after nervousness over a sooner-than-later U.S. hike eases. This, despite an unexpected cut in S Ko’s interest rate to a record low 1.75% and further deterioration in Japanese business sentiment. Shanghai led the Far East higher, up 1.77%; the Nikkei rose 1.43% and the Hang Seng, +.43%. Europe is mostly higher at mid-day: FTSE, +.81%; DAX, +.05% with the CAC 40 off .05%. Wall Street is expected to open higher: DOW futures, +58; S&P 500, +6.50 and the NAS, +14. Gold appears to have broken an 8-day losing skid, up $7.0 on the March to $1,157.70. Energy futures are mostly higher and the $ Index is down a ½ point+ at 99.19.
· The forecast for Mato Grosso, Brazil is dry or with only a few showers today-Friday. Temperatures are projected to be mostly near normal. The planting window for second crop corn will close at the end of this week. Dry conditions are forecast for Rio Grande do Sul through Friday while only a few showers are possible for north and east Parana. Near to above average temperatures are forecast south, below normal readings north. Mostly dry weather forecast for Argentina today with above normal temperatures. A few light showers are possible in south and west Buenos Aires and La Pampa on Friday with mostly above normal temperatures
· Mar Corn Unch at $3.84; May Down$.0025 at $3.9075. Dely: 229. The funds bought 5 K at mid-week
· Mar SB Up $.02 at $9.91; May Up $.0275 at $9.9950. Dely: 101 SB, 27 SBO. Funds bought 4 K SB; 3 K SBM & 1 K SBO
· Mar Wheat Unch at $5.03; May Up $.0350 at $5.0250. Dely: 13 HRW, 0 SRW. Funds bought 4 K yesterday
CORN/SORGHUM        
· Export Sales to be released at 7:30 AM CDT. Trade: 24 to 31 mbu corn.
· Ethanol grind: 944,000 barrels per day for week end March 6--up 13 thou vs. last week and 8.6% higher vs. last year
· ATI Research: Analysis of years with a similar soybean/corn ratio suggests that corn planting in U.S. states that tend to follow a regular rotation may decline significantly in 2015. In total, U.S. corn plantings may decline to 85.8 mil acres
· USDA reports corn planting progress in Texas at 6% compared to 10% last year and the 5-year average of 15%
SOYBEANS/WHEAT
· Export Sales to be released at 7:30 AM CDT. Trade expects soybeans, 11 to 18 mbu; soymeal, 50-200; soyoil, 0-15
· ATI Research: Analysis of years with a similar soybean/corn ratio suggests that soybean plantings in U.S. may increase to 86.8 million acres in 2015 compared to 83.5 million in 2014
· November 2015 soybean futures closed at $9.71 ½ Wed;; one year ago, November 2014 contract settled at $11.89 ½
· Export Sales to be released at 7:30 AM CDT. Trade expects 11-17 mbu for all wheat
· CBT July 2015 wheat futures closed at $5.01 ¾ Wed;; one year ago, the CBT July 2014 contract settled at $6.64 ¼
ENERGY
· Futures are mostly firmer: QCLJ15, +$0.36 at $48.53; QRBJ, +0.0239; QNGJ, -$.034 and QHOJ, +$.0150
· A firmer trend was seen in cash ethanol markets on Wednesday: Chicago gained 2 ½; Gulf up 2 ¼; New York and Tampa climbed 1 ½; Dallas added 3; and LA was up 1 to $1.67 ½ per gallon
· RINs steady to lower: 2013’s steady at 69-70; 2014’s down ¼ to 70-71; and 2015’s unchanged at 69 ½-70
· The April RBOB/April Ethanol spread eased nearly 2 ½ cents to $.3354/gallon on Wednesday
LIVESTOCK/POULTRY <wbr>  
·   Choice boxed beef values on Wednesday were down 32-cents and are $1.11 lower vs. a week ago
· April live cattle futures closed at $155.60 on Wednesday and is up $10.30 since making a low of $145.30 on Feb. 24
· The USDA mandatory pork carcass cutout value was 22-cents lower on Wednesday and is down $1.28 vs. last week
· CME Lean Hog Index was down $0.42 at $66.80. April futures down $1.85 at $64.125 and is $2.675 below the index
Sources: Bloomberg, Dow Jones, AP, DTN Ag Weather