Home Market Market Watch Midday Update

Midday Update



Midday Update

·         Export shipments in the week ending February 12 totaled 28.5 million bushels of corn, 10.7 million bushels of grain sorghum (strong), 49.1 million bushels of soybeans (strong), and 14.8 million bushels of wheat (weak)

·         The National Oilseed Processors Association reports that its members crushed

·         March option expiration is Friday, with $10 providing an attractive strike price for soybean traders ahead of expiration.

·         Cash hogs are mostly $1 lower in the closely watched Iowa/Southern Minnesota market, while steady to $1 lower across much of the rest of the Midwest.

·         Corn futures are 1 to 2 cents lower as crude oil drops, adding a downward draft to the commodity sector.

·         Soybeans feel that same draft, but are still up 6 cents. However, they are several cents off of a failed attempt at $10 after reaching $9.9975.

·         March soymeal is up $6.20 on the extended export season.

·         Wheat is mixed,

·         Live cattle futures are down $1.40 to $2.05 on broad weakness in the meat sector. Boxed beef prices bounced nicely this morning, but on very slow movement.

·         Feeder cattle are $1.85 to $2.15 lower on weakness in the fat cattle.

·         Lean hogs are down $1.50 to $1.75, with the cash market weaker and product prices soft as well.


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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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 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.

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