HIGHLIGHTS
· MARKET TREND—Mixed: CK, down $.0050; SK, down $.0450; WK, up $.0050; KWK, up $.0050
· MACRO—Overseas markets mixed; Yellen speaks today; initial jobless claims out this morning as well as new home sales. ASIA—Higher: Nikkei, +0.23%; Shanghai, +0.11%; Hang Seng, +0.03%. EUROPE—Mostly lower: DAX, +0.13%; FTSE, -0.22%; CAC, -0.19%. Wall STREET-Futures are mixed: DOW, -8; S&P, +1.50; NAS, -2.00. EXTERNALS: Sep $ Index, +0.137 @ 99.455; April Gold, -$1.70 @ $1,248; May Crude, +$0.31 @ $48.35
· Weather: Scattered light showers are forecast through Fri. across southern Brazil including Rio Grande do Sul & Parana. Temps forecast to be near to above normal. Near daily episodes of scattered showers & thunderstorms occur over the next week across northern Brazil including Mato Grosso, Mato Grosso do Sul and Goias. Temps are forecast to be near to above normal. Dry conditions are just a few light showers are forecast today across Argentina including Cordoba, Santa Fe & northern Buenos Aires
· Corn: CK down $.0050 @ $3.5825; CN down $.00505 @ $3.66. The funds again sold 8 K yesterday
· SB: SK down $.0450 @ $9.9525; SN dn $.0450 @ $10.0575. Funds: sold 3 SB, 4 SBM, bot 1 SBO. Board Crush: $.81, +1; LY; $.59
· Wheat: WK up $.0050 @ $4.2275; WN, up $.0050 @ $4.38. The funds repeatedTuesday’s action, selling 5 K
CORN/SORGHUM
· May 2017 corn futures closed at $3.58 ¾ on Wed., the lowest settlement price for the contract for calendar year 2017
· Export Sales to be released at 7:30 AM CDT. Trade expects 35-47 for 16/17 corn
· USDA pegs corn planting progress in Texas was 31% as of March 19 compared to 25% last week, 28% last year and the 5-year average of 27%. Sorghum planting in Texas is 26% vs. 19% last week, 21% last year and 18% for the 5-year avg
· Consultant: Brazil safrinha (double crop) corn planting nationwide is 93-95% done with only a few areas left to plant
· Ethanol grind: Total of 1,044,000 barrels/day for week end March 17—dn 1 thou v. last week but up 2.2% v. last year
SOYBEANS/WHEAT
· Export Sales report. Trade expects 13-20 mbu for 16/17 soybeans; soymeal, 150-350 K MT; soyoil, 0-30
· Consultant: The Brazilian soybean crop is now approximately 66-68% harvested with many areas nearing completion. Harvest in the top producing state of Mato Grosso is 94.5% complete compared to 85% last year
· USDA on Wed. reported a sale of 120,000 MT of U.S. HRW wheat for delivery to Saudi Arabia for 2016/17 crop year
· Export Sales report. Trade expects 9-17 mbu for 16/17 all wheat
· Weather: NWS 6-10 and 8-14 day forecasts released on Wednesday projected above-normal precip for all U.S. HRW wheat across the Central and Southern Plains
ENERGY
· Lower: CLK17, +$0.31 @ $48.35; EBK, $+0.29 @ $50.92; EBK-QCLK, -.02; RBK, $.00;NGK, +$0.018; HOK, +$.0054
· Cash ethanol markets posted gains on Wednesday: Chicago firmed 1 7/8; New York added ¾; Gulf increased 1 ¾; Tampa and Dallas gained a penny; and LA was 1/8 higher at $1.64 5/8 per gallon
· Ethanol RINs up slightly Wed.: 2015’s added 1 ½ to 52-57; 2016’s gained 1 ½ to 54-59; & 2017’s climbed 1 ½ to 54-59
· The April RBOB/April ethanol spread narrowed $.0183 to +$.06490/gallon, premium RBOB
LIVESTOCK/POULTRY  
·   Choice boxed beef values declined $1.93 on Wednesday to $223.00, but are still $1.88 higher vs. a week ago
· April live cattle futures on Wed. closed at $122.45, the highest settlement price for the contract since Jan. 6, 2016
· USDA mandatory pork carcass cutout fell $1.83 on Wednesday to $78.58, and is $3.10 lower compared to last week
· CME Lean Hog Index was $0.07 lower on Wed. at $71.41. April futures firmed $0.15 but are $3.26 below the index
Sources: Bloomberg, Dow Jones, AP, DTN, T-storm Weather