Home Market Market Watch Midday Update

Midday Update

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Midday Update

·         Corn 3 ½ to 4 ½ lower, Soybeans 9 to 14 lower, Wheat 13 to 15 lower on continued long liquidation.

·         Cattle 2.00 to 2.40 higher, Feeders 3.90 to 4.50 higher, Hogs .30 to .375 higher.

·         Dow gave up early session strength, now down 14 points.

·         US Dollar in new contract highs – up .678 at 91.325.

·         Export sales for the week ending December 26 totaled 35.2 million bushels of old crop corn (strong), 22.5 million old crop soybeans (average), and 13 million bushels of wheat (average).

·         Cold weather threats becoming a bit less threatening to the winter wheat crop with some snow cover expected and cold weather not expected to stay as long as feared.

·         France and Germany are expected to remain aggressive sellers on the wheat scene in the absence of Russian exports after Feb 1.

·         Corn exports, while 46% off last week’s huge number, remains respectable considering the Christmas holiday and helps to keep on pace toward USDA forecasts.

 

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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