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World Bank president: In times of food shortages, reduce subsidies for ethanol

Corn and soy complex futures posted modest corrective gains overnight. Wheat futures were weaker for most of the overnight session but have turned mixed early this morning.

Grain and soy markets faced heavy selling tied to improved peace talks between Russia and Ukraine. Hogs futures also faded on that news, while cattle firmed amid the sharp pressure on corn.

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Followthrough pressure from heavy selling in grain and soy futures late in the overnight session amid renewed hopes of Russia/Ukraine peace talks. Livestock markets expected to open lower, too.

Wheat and corn continued to be pressured in overnight trade. Soybeans traded higher.

HRW crop conditions improved modestly during March but are still far below last fall and the five-year average for early April.

March planting intentions is getting much of the pre-report hype, but March 1 grain stocks could end up being the data that moves markets.

Analysts expect Wednesday’s Hogs & Pigs Report to show the U.S. hog herd contracted 1.2% from year-ago as of March 1.