Home Market Market Watch Midday Update

Midday Update

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Midday Update

* At midday, corn is +2 1/2, soybeans are -2 1/2, Chicago wheat is +1, KC wheat is even, Minneapolis wheat is -1, March feeders +3.125, Feb fat cattle +1.250, Feb hogs -0.450.

* Export sales report: corn 45.7 mln bu (very good), soybeans 36.2 mln bu (good), wheat 13.3 mln bu (good).
* Corn holding up on fund short covering support and supportive export sale while soy meal is weighing on soybeans.
* Farm Futures producer survey estimated 2016 acres at 89.5 mln acres and soybeans at 82.2 mln acres.
* Crude oil up over $2 today and Dow trading 160 higher.
* USDA Cattle on Feed report out this afternoon.

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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