Midday Update

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Midday Update

********* Trade volume remains thin ahead of today’s early Noon CST close f=
or the Christmas break.

********* Trade rumors are circulating today that Russia’s export duty woul=
d be lower than first reported, which may allow some wheat to keep flowing.=
Changes to export duty are not expected for another 30 days.

********* Ethanol stocks slipped to 17.6 million barrels in the week ending=
December 19, down from 17.7 million the previous week, but up from 15.7 mi=
llion the previous year.

********* Ethanol production reached a new record 992K barrels per day in w=
eek ending December 19, versus 990K the previous week and 926K the previous=
year.

********* Packers started the bid at $159, but quickly pushed it to $162 pe=
r cwt on a live basis, which began to buy cattle in Kansas this morning. La=
st week’s trade started at $157 in Kansas, followed by $160 in Colorado and=
Nebraska.

********* Cash hogs are mostly steady, but packers generally have their nee=
ds met, with trade quiet.

********* Corn futures are 3 cents lower on lower soybeans and wheat & a mo=
dest increase in farmer selling.

********* Soybean futures are down 7 cents on the approach of South America=
‘s big harvest.

********* Wheat futures are down 13 cents in Chicago, down 12 cents in Kans=
as City and down 9 cents in Minneapolis on the Russia news.

********* Live cattle futures are 20 to 90 cents higher in the nearby contr=
acts on better-than-expected cash cattle trade, while deferred contracts ar=
e weaker.

********* Feeder cattle futures are 30 to 70 cents weaker in follow-through=
selling amid weak demand at the sale barns.

********* Nearby lean hog futures are 10 to 25 cents lower following yester=
day’s bearish hogs and pigs report, while the deferred contracts are modest=
ly higher in corrective trade.

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_f2e1fb44896d4aba991b5a6e1604bc02Peo1Exch2abslocal_
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3D"cid:image009.jpg@01CE6CE4.660D8B30"


Midday Update


·      &nbs=
p; 
Trade volume remains thin ah=
ead of today’s early Noon CST close for the Christmas break.


·      &nbs=
p; 
Trade rumors are circulating=
today that Russia’s export duty would be lower than first reported, =
which may allow some wheat to keep flowing. Changes
to export duty are not expected for another 30 days.


·      &nbs=
p; 
Ethanol stocks slipped to 17=
.6 million barrels in the week ending December 19, down from 17.7 million t=
he previous week, but up from 15.7 million the
previous year.


·      &nbs=
p; 
Ethanol production reached a=
new record 992K barrels per day in week ending December 19, versus 990K th=
e previous week and 926K the previous year.


·      &nbs=
p; 
Packers started the bid at $=
159, but quickly pushed it to $162 per cwt on a live basis, which began to =
buy cattle in Kansas this morning. Last week’s
trade started at $157 in Kansas, followed by $160 in Colorado and Nebraska=
.


·      &nbs=
p; 
Cash hogs are mostly steady,=
but packers generally have their needs met, with trade quiet.


·      &nbs=
p; 
Corn futures are 3 cents low=
er on lower soybeans and wheat & a modest increase in farmer selling.


·      &nbs=
p; 
Soybean futures are down 7 c=
ents on the approach of South America’s big harvest.


·      &nbs=
p; 
Wheat futures are down 13 ce=
nts in Chicago, down 12 cents in Kansas City and down 9 cents in Minneapoli=
s on the Russia news.


·      &nbs=
p; 
Live cattle futures are 20 t=
o 90 cents higher in the nearby contracts on better-than-expected cash catt=
le trade, while deferred contracts are weaker.


·      &nbs=
p; 
Feeder cattle futures are 30=
to 70 cents weaker in follow-through selling amid weak demand at the sale =
barns.


·      &nbs=
p; 
Nearby lean hog futures are =
10 to 25 cents lower following yesterday’s bearish hogs and pigs repo=
rt, while the deferred contracts are modestly higher
in corrective trade.

 

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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