Your Pro Farmer newsletter (March 30, 2024) is now available

USDA’s Prospective Plantings and Quarterly Grain Stocks Reports tend to produce big price moves – and this year was no exception. The corn data was bullish as March 1 stock and planting intentions both came in well below expectations. That triggered short-covering in the corn market ahead of the extended Easter weekend. The Francis Scott Key Bridge on the Patapsco River in Baltimore Harbor collapsed after being struck by a cargo ship. That indefinitely closed access to the Port of Baltimore. We take a look at potential impacts. USDA reported cattle at three dairy farms in Texas and one in Kansas tested positive for highly pathogenic avian influenza (HPAI). Dairy cows in New Mexico also exhibited symptoms of the illness and were tested. So far, there have been no trade restrictions for U.S. dairy products, but the news helped fuel active fund liquidation in the cattle market. We cover all of these items and much more in this week’s newsletter, which you can download here.