Midday Update

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Midday Update

********* The dollar is consolidating just below Friday’s 8-1/2 year high, =
while crude oil is lower, consolidating just above 5-1/2 year highs.

********* Reuters reports that DuPont Pioneer has received approval from Ch=
ina for the import of its stacked Plenish soy product.

********* “Unknown destinations” bought another 6.6 million bushels of U.S.=
current-year corn over the weekend.

********* Recent large sales have largely gone to customers like Mexico or =
Japan where we have a freight advantage. China is not expected to be a sign=
ificant buyer at this point, but that can’t be ruled out as we get more of =
these sales to “unknown destinations.”

********* Reuters reports that Syngenta has received official notification =
of Viptera corn’s approval for import into China.

********* Export shipments in the week ending December 18 were all above tr=
ade expectations. The shipments included 31.1 million bushels of corn (rout=
ine), 6.5 million bushels of grain sorghum (strong), 82.1 million bushels o=
f soybeans (strong) and 16.2 million bushels of wheat (routine).

********* Soymeal truck basis dropped another $5 in Frankfort and $3 in Kan=
sas City, but rail basis bounced back $10 in Kansas City.

********* Corn futures are 1-2 cents higher on strong upfront demand, slow =
farmer selling and positive chart signals.

********* Soymeal captured a bid on the board in pre-holiday trade this mor=
ning, rising to one-week highs, up $5.60 per ton.

********* Soybeans are 7 cents higher on stronger meal and strong export sh=
ipments.

********* Wheat futures are mixed after overnight gains on Russia headlines=
have evaporated.

********* Live cattle futures are 55 to 65 cents higher on follow-through b=
uying from Friday. Cash cattle traded Friday at $160 in Nebraska and Colora=
do.

********* Feeder cattle futures are 10 to 50 cents higher on cautious follo=
w-through buying.

********* Lean hog futures are $0.45 to $1.30 lower ahead of tomorrow’s USD=
A quarterly hogs and pigs report that is expected to show continued expansi=
on. Cash hogs are steady to $1 lower today. Product prices are modestly fir=
mer on good movement.

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

www.waterstreet.org
or 1-866-249-2528

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

Past performance is not indicative of future results. The information conta=
ined 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 comp=
iled 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 a=
ll investors. Investors should consider these RISKS and evaluate their suit=
ability based on their financial conditions. No one should ever consider tr=
ading 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 los=
s 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 o=
r security named herein.

The information contained in this e-mail message is intended only for the p=
ersonal and confidential use of the recipient(s) named above. This message =
may be an attorney-client communication and/or work product and as such is =
privileged and confidential. If the reader of this message is not the inten=
ded recipient or an agent responsible for delivering it to the intended rec=
ipient, you are hereby notified that you have received this document in err=
or and that any review, dissemination, distribution, or copying of this mes=
sage is strictly prohibited. If you have received this communication in err=
or, please notify us immediately by e-mail, and delete the original message=
. Water Street Solutions is an equal opportunity provider. Water Street Sol=
utions is an equal opportunity employer.

–_000_581645682eaf4155b99882e4f9b5e5c4Peo1Exch2abslocal_
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3D"cid:image009.jpg@01CE6CE4.660D8B30"


Midday Update


·      &nbs=
p; 
The dollar is consolidating =
just below Friday’s 8-1/2 year high, while crude oil is lower, consol=
idating just above 5-1/2 year highs.


·      &nbs=
p; 
Reuters reports that DuPont =
Pioneer has received approval from China for the import of its stacked Plen=
ish soy product.


·      &nbs=
p; 
“Unknown destinations&=
#8221; bought another 6.6 million bushels of U.S. current-year corn over th=
e weekend.


·      &nbs=
p; 
Recent large sales have larg=
ely gone to customers like Mexico or Japan where we have a freight advantag=
e. China is not expected to be a significant
buyer at this point, but that can’t be ruled out as we get more of t=
hese sales to “unknown destinations.”


·      &nbs=
p; 
Reuters reports that Syngent=
a has received official notification of Viptera corn’s approval for i=
mport into China.


·      &nbs=
p; 
Export shipments in the week=
ending December 18 were all above trade expectations. The shipments includ=
ed 31.1 million bushels of corn (routine), 6.5
million bushels of grain sorghum (strong), 82.1 million bushels of soybean=
s (strong) and 16.2 million bushels of wheat (routine).


·      &nbs=
p; 
Soymeal truck basis dropped =
another $5 in Frankfort and $3 in Kansas City, but rail basis bounced back =
$10 in Kansas City.


·      &nbs=
p; 
Corn futures are 1-2 cents h=
igher on strong upfront demand, slow farmer selling and positive chart sign=
als.


·      &nbs=
p; 
Soymeal captured a bid on th=
e board in pre-holiday trade this morning, rising to one-week highs, up $5.=
60 per ton.


·      &nbs=
p; 
Soybeans are 7 cents higher =
on stronger meal and strong export shipments.


·      &nbs=
p; 
Wheat futures are mixed afte=
r overnight gains on Russia headlines have evaporated.


·      &nbs=
p; 
Live cattle futures are 55 t=
o 65 cents higher on follow-through buying from Friday. Cash cattle traded =
Friday at $160 in Nebraska and Colorado.


·      &nbs=
p; 
Feeder cattle futures are 10=
to 50 cents higher on cautious follow-through buying.


·      &nbs=
p; 
Lean hog futures are $0.45 t=
o $1.30 lower ahead of tomorrow’s USDA quarterly hogs and pigs report=
that is expected to show continued expansion. Cash
hogs are steady to $1 lower today. Product prices are modestly firmer on g=
ood movement.

 

All op=
inions expressed in this commentary are solely those of Water Street Adviso=
ry. 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 re=
liable, we cannot guarantee its accuracy or completeness. There is signific=
ant risk of loss involved in commodity futures and options trading and may =
not be suitable for all investors.

3D"cid==

3D"cid:imag=<= /p>

3D"cid:image012.png@01C=

www.waterstreet.org 

or 1-866-249-2528

 

 

3D"https://www.hoosieragtoday.com/wp-content/uploads/2017/05/purdue-news.png"

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 opini=
on of the writer and may change at any
time. This information was compiled from sources believed to be reliable b=
ut accuracy cannot be and is not guaranteed. There is no warranty, expresse=
d or implied, in regards to this information for any particular purpose. Th=
ere is SIGNIFICANT RISK involved
in trading futures and or options on futures and may not be suitable for a=
ll investors. Investors should consider these RISKS and evaluate their suit=
ability based on their financial conditions. No one should ever consider tr=
ading 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 comm=
odity or security named herein.
<= /p>

The i=
nformation contained in this e-mail message is intended only for the person=
al and confidential use of the recipient(s) named above. This message may b=
e an attorney-client communication and/or
work product and as such is privileged and confidential. If the reader of =
this message is not the intended recipient or an agent responsible for deli=
vering it to the intended recipient, you are hereby notified that you have =
received this document in error
and that any review, dissemination, distribution, or copying of this messa=
ge is strictly prohibited. If you have received this communication in error=
, please notify us immediately by e-mail, and delete the original message. =
Water Street Solutions is an equal
opportunity provider. Water Street Solutions is an equal opportunity emplo=
yer.

 


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