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Soy and wheat futures starred for the ag markets Wednesday

Corn futures rebounded Wednesday. The USDA Grain Stocks and Prospective Plantings reports sent corn prices tumbling Tuesday, but the market firmed overnight. Prices staged a moderate recovery this afternoon, with sentiment surging after the weekly EIA energy report stated domestic ethanol stocks at their lowest level since early January. May corn futures closed 5.5 cents higher at $3.8175/bushel Wednesday, while December moved up 6.0 to $4.0675.

Markets

Pork Signals: 2015 starts with a down market

Editor's note: The following article was originally published in the March 2015 issue of PORK Network.

Hog prices were at record highs in 2014 largely because hog slaughter was down 4.6 percent, their lowest level since 2006. The big drop in slaughter was mostly due to increased death loss caused by Porcine Epidemic Diarrhea virus (PEDv).

The decline in hog slaughter began in April of 2014 and lasted through December.

Markets

Ag markets diverged after Tuesday's USDA reports

Corn futures reacted badly to the USDA reports. The USDA released its Grain Stocks and Prospective Plantings reports at 11:00 AM CDT this morning, which sent corn prices sharply lower. The stocks result easily topped forecasts, thereby depressing old crop prices, while the 2015 acreage figure also far exceeded expectations and depressed new crop values. May corn futures plunged 18.25 cents to $3.7625/bushel in late Tuesday trading, while December dropped 17.5 to $4.0025.

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