Cattle see profit taking & hedge selling after record cash. Mostly $175 South, $290 North. Hogs seeing short covering off contract lows. Bull spreading in corn w/ China biz.. Scott Varilek of Kooima Kooima Varilek.

Drew Lerner of World Weather, Inc. says he’s concerned about the potential for a widespread frost and freeze later next week. Current models are conflicting on how widespread it will be and how cold it will get.

AgDay TV Markets Now: Tommy Grisafi of Advance Trading discusses the risk off selling in grains and the drop coming in cash grain prices as May options expire and elevators roll from bidding off May to July.

The Buenos Aires Grain Exchange kept its Argentine soybean and corn crop estimates at 25 MMT and 36 MMT, respectively.

Markets end mostly lower on risk off, profit taking on corn & soybean spreads, and poor exports. Nearby cattle hit new highs after record cash, then saw hedge pressure. Tommy Grisafi of Advance Trading.

“As I understand it, this rule says EPA is going to determine jurisdiction on a case-by-case basis,” says NCBA’s Ethan Lane. “This is never the way you want a bureaucracy to interact with your private businesses.”