Wake Up Call

Corn Market:

• Ethanol and export numbers are looking solid, providing positive news for the corn market.
• Despite a minor setback due to technical factors and wheat trading lower, the corn market has been on a recent upward trend.
• Anticipation for the prospective plantings report on the 28th may bring support to the corn market.

Soybean Market:

• Acreage survey suggests an increase of over 2.2 million acres in soybeans from last year.
• Export numbers for beans were moderate, but there is a need for improvement to avoid potential USDA adjustments that could increase the carryout.
• Price comparison with Brazil remains higher, and a focus on boosting bean exports is crucial.

Wheat Market:

• Overseas wheat market trends continue to influence trade.
• Acreage survey indicates a potential reduction of almost two million acres in all wheat.
• Despite a recent disappointment in wheat exports, the market remains dynamic with fluctuations.

Cattle Market:

• April filled a gap in the chart at $190.27 and faced selling pressure thereafter.
• Technical factors played a significant role in yesterday's market movements.
• Cash trade reports show positive momentum with higher prices, potentially impacting today's trade.

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