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Grains mixed ahead of the WASDE Report. What should we watch for and how much is baked into prices? Livestock 2-sided. Cattle have worked in lower cash, hogs Prop 12. Mike Zuzulo of Global Commodity Analytics.

Grains are firm in the early morning trade, ahead of this morning’s USDA report. Here’s a look at the important levels to keep an eye on.

“If you raise 200 bu. corn with a CI score of 0, that’s $1.57 per bushel and an extra $314 in value. Now, the ethanol plant isn’t expected to share 100%, but it could be 25% to 30%,” says Paul Neiffer, a farm CPA.

AgDay TV Markets Now: Rich Nelson of Allendale says funds sell in corn and wheat on exports, weather and WASDE, while soybeans follow meal higher.

“If you do not run your day, your day will run you,” says Mary Kelly, CEO of Productive Leaders and a 20-year veteran of the Navy.

Corn futures had a nice reversal in yesterday’s session but was unable to use that to their advantage following a dismal export sales report this morning.

The May WASDE will provide the first new crop estimates of the growing season and this could be a volatile report with the transition from tight old crop stocks to much larger supplies of corn and soybeans.

Funds sell in corn & wheat on wx, poor exports, WASDE, outside markets. While soybeans bouce w/meal, lower Argentina estimate. Lower cash weighs on live cattle, hogs react to Prop 12. Rich Nelson, Allendale.

Rep. Thompson signaled he wants to hear “commitment from everyone, including the president, that we will get this done and in the manner I’ve been speaking about. Bipartisan, bicameral, on time and highly effective.’”