Home Market Market Watch Midday Update

Midday Update

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Midday Update

·         The dollar has been on a roller coaster ride this morning, with money flowing in and out of the broader commodity complex driving prices in the opposite direction. The dollar currently shows modest gains.

·         Argentine strikes continue to hamper movement and shipment of soybeans, soymeal and soyoil.

·         Strength in the soymeal market suggests some of that demand is shifting to our shores.

·         Midwest cash hogs are steady to 50 cents higher in the closely followed Iowa/Southern Minnesota market, while mostly steady to 50 cents lower elsewhere.

·         Corn futures are currently down 3 cents after December broke below support at $3.72.

·         Soybean futures are up 3 cents on strength in soymeal, which is up $4.80 per ton.

·         Wheat futures are down 4 cents in Chicago, down 10 cents in KC and down 5 cents in MN on chart-related selling and slow demand.

·         Live cattle futures are 15 to 55 cents higher in consolidation this morning. Product prices are mixed on good movement.

·         Feeder cattle are $0.70 to $1 higher on strength in the cash market for light-weight cattle.

·         Lean hog futures are 20 to 65 cents higher for the summer months and 15 to 30 cents weaker for the fall months. Product prices are soft on good movement this morning.

 

All opinions expressed in this commentary are solely those of Water Street Advisory. This data and these comments are provided for information purposes only and are not intended to be used for specific trading strategies. Although all information is believed to be reliable, we cannot guarantee its accuracy or completeness. There is significant risk of loss involved in commodity futures and options trading and may not be suitable for all investors.

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Arlan Suderman | Senior Market Analyst
WATER STREET ADVISORY® | www.waterstreet.org
(316) 729-4599 | asuderman@waterstreet.org

Past performance is not indicative of future results. The information contained in this report is intended for informational purposes only and is the opinion of the writer and may change at any time. This information was compiled from sources believed to be reliable but accuracy cannot be and is not guaranteed. There is no warranty, expressed or implied, in regards to this information for any particular purpose. There is SIGNIFICANT RISK involved in trading futures and or options on futures and may not be suitable for all investors. Investors should consider these RISKS and evaluate their suitability based on their financial conditions. No one should ever consider trading futures or options on futures with anything other than RISK CAPITAL. This information is provided freely and is NOT in the capacity of a trading advisor. NO LIABILITY on the part of the author exists for any trading loss you may incur in the use of this information. Information provided is not to be construed as an offer to sell or solicitation to buy any commodity or security named herein.

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