Corn Rebounds as Virus Fears Moderate
A fourth day of corn export sales announced and an easing of coronavirus concerns helped March corn close up 6 cents Tuesday. March soybeans were down 2 1/4 cents and all three wheats were modestly lower, but other commodities were mostly higher.
Lean Hog Market Strong, Cattle Complex Closes Weak
Some stability may have been found in the lean hog sector, but cattle contracts aren't able to rebound on the same note.
Soybeans Continue Lower; DDG Weaker
Soybeans were lower Monday as the spread of the coronavirus continues to affect the energy complex.
Concerns Rise About DFA Potential Acquisition of Dean Foods
Class III futures closed mixed with closer months higher. Futures and cash needed to realign again after the large decline Monday. Federal antitrust regulators are evaluating a possible purchase of Dean Foods by Dairy Farmers of America.
Ethanol Futures Turn Higher Tuesday
Ethanol futures were up 1 cent per gallon in the February contract at $1.314 and up 2.6 cents in the March contract at $1.347. March corn closed up 6 cents at $3.86 1/2 and May corn was up 5 1/4 cents at $3.92.
Urea Leads Fertilizers Lower
Retail urea prices dropped an average of 6% compared to last month, the largest price change of the eight major fertilizers tracked by DTN. It continues a long-running trend toward lower prices.
Cotton Mimics Dow Higher
The cotton market followed Tuesday's triple-digit gains in the Dow Jones with strong double-digit gains of its own.
Soybeans Lower; Canola Posts Modest Gains
Corn ended 2 3/4 to 6 cents higher, soybeans ended 2 to 2 1/4 cents lower, canola ended $0.30 to $1/mt higher, SRW closed 2 1/2 to 2 3/4 cents lower, HRW settled 4 1/2 to 5 cents lower and HRS ended 4 1/2 to 5 cents lower.