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Corn is mostly 3 to 5 cents higher at midmorning.
- Corn futures are firmer amid support from general strength across the grain and soy complex, driven by strong gains in crude oil as traders build risk premium as tensions persist in the Middle East.
- Southeastern Argentina rain potentials are not very good over the next ten days which may threaten late season summer crop production in portions of Buenos Aires and Uruguay, according to World Weather Inc.
- The U.S. economy lost 92,000 jobs in February, the Labor Department said Friday, while the unemployment rate rose to 4.4%. That follows a gain of 126,000 jobs in January and was well short of the average economist guess for a gain of 50,000 jobs.
- May corn futures are facing resistance at $4.58 and $4.62, while support lies at the 200-day moving average, trading at $4.47 3/4.
Soybeans are 9 to 15 cents higher, while soymeal is around $5.80 higher. Soyoil is around 40 points higher.
- Soybeans are posting notable gains as market participants build risk premiums amid inflationary pressures from rising crude oil prices and disrupted trade flows.
- Brazilian farmers are expected to reap 183.1 million metric tons of soybeans in the 2025/2026 season, agribusiness consultancy Agroconsult said on Thursday, raising its January estimate by 850,000 tons as it runs a nationwide crop tour, according to Reuters.
- Recent drying in Brazil has been perfect for promoting soybean maturation and harvesting, according to World Weather Inc.
- Malaysian palm oil futures climbed around 1.5% to above MYR 4,250 per MT on Friday, extending gains from the prior session and nearing a five-week high, supported by a weaker ringgit and strength in edible oils on the Dalian exchange.
- May soybeans have scored a new for-the-move high, with initial resistance serving at the psychological $12.00 level. Initial support lies at the 10- and 20-day moving averages, layered at $11.68 1/2 and $11.56 1/4.
Wheat futures are mostly 10 to 20 cents higher.
- SRW wheat futures have notched multi-month highs, with support from a weaker U.S. dollar.
- Ratings of French soft wheat crops showed 84% were in good or excellent condition by March 2, unchanged from a week earlier and above a year-earlier score of 74%, FranceAgriMer said in a cereal report.
- The United Nations’ FAO Food Price Index increased 0.9% to 125.3 index points in February 2026, the highest in four months, from an upwardly revised 124.2 in January.
- May SRW futures have touched an 8-month-high, though resistance stands at $6.50 1/4, while initial support lies at the 10-day moving average of $5.88 1/4, which is backed by the 20- and 200-day moving averages.
Live cattle are weaker while feeders are posting a notable decline at midsession.
- Nearby futures are weaker as traders wait for cash trade to develop, with feeders under pressure amid strength in corn futures.
- Choice boxed beef values fell $1.68 to $386.89 on Thursday, while Select rose 26 cents to $380.61. Movement totaled 96 loads for the day.
- April cattle futures are trading mostly between the 10- and 20-day moving averages, trading at $238.80 and $237.00, which are backed by the Feb. 4 high and the March 2 low, respectively.
Hog futures are modestly firmer at midsession.
- Lean hog futures are modestly firmer, though technical resistance and selling pressure in cattle futures.
- The CME lean hog index is up 37 cents to $90.55.
- The pork cutout value rose 60 cents to $99.22 on Thursday. Movement improved to 327.0 loads.
- April lean hogs continue to find support at the 10-day moving average, trading at $95.75, which is backed by the 40- and 20-day moving averages. Initial resistance stands at $96.73, which is backed by the Feb. 4 high of $99.80.