Home Market Market Watch Midday Update

Midday Update

SHARE

https://www.hoosieragtoday.com//wp-content/uploads//2014/09/image00924.jpg

Midday Update

·       Export sales for the week ending September 4 totaled 22.1 million bushels of corn, 36.2 million bushels of soybeans, 8.2 million bushels of grain sorghum and 25.4 million bushels of wheat.

·         USDA’s daily export reporting system today included China buying 8.8 million bushels of U.S. soybeans, China buying 13.2 million bushels of optional origin soybeans and “unknown destinations” buying 7.7 million bushels of U.S. soybeans, all in the current marketing year.

·       USDA confirms big crop expectations; results vs expectations are below:

U.S. Yields & Production

2014-15

2014-15

 

Corn

Soybeans

Corn

Soybeans

 

Yield in bushels per acre

Production in billions of bushels

USDA September 11

171.700

46.600

14.395

3.913

    Pre-Report Estimates

       

Average Trade Estimate

170.743

46.293

14.288

3.883

Highest Trade Estimate

174.100

48.000

14.649

4.035

Lowest Trade Estimate

168.500

45.400

14.000

3.760

Previous USDA Estimate

167.400

45.400

14.032

3.816

         

Water Street Solutions

172.700

48.000

14.475

4.035

 

U.S. Ending Stocks

2014-15

        – new crop

Wheat

Corn

Soybeans

 

billions of bushels

USDA September Report

0.698

2.002

0.475

    Pre-Report Estimates

     

Average Trade Estimate

0.667

2.012

0.453

Highest Trade Estimate

0.716

2.421

0.495

Lowest Trade Estimate

0.625

1.811

0.353

Previous USDA Estimate

0.663

1.808

0.430

       

Water Street Solutions

0.651

2.001

0.495

 

<![if !supportLists]>·         <![endif]>Corn futures are down 8 cents to new lows following the report.

<![if !supportLists]>·         <![endif]>Soybeans are down 18 cents on the bearish data from USDA

<![if !supportLists]>·         <![endif]>Wheat is down 12 cents on the report.

<![if !supportLists]>·         <![endif]>Live cattle futures are down $2.15 to $2.35 in the two nearby contracts on follow-through profit taking following yesterday’s bearish reversal.

<![if !supportLists]>·         <![endif]>Feeder cattle are down $1.20 to $2 on weak fat cattle futures, despite a record cash index.

<![if !supportLists]>·         <![endif]>Lean hog futures are down $0.60 to $1.65 on technical selling.

 

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.

https://www.hoosieragtoday.com//wp-content/uploads//2014/09/image01024.jpg

https://www.hoosieragtoday.com//wp-content/uploads//2014/09/image01124.jpg

https://www.hoosieragtoday.com//wp-content/uploads//2014/09/image01224.png

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

 

 

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.

The information contained in this e-mail message is intended only for the personal 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 intended recipient or an agent responsible for delivering 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 message 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 employer.