Home Market Market Watch Midday Update

Midday Update



Midday Update

·         USDA’s daily export reporting system today included China purchasing another 4.3 million bushels of this year’s soybean crop, while Mexico bought 4.7 million bushels of next year’s corn corp.

·         Export shipments for the week ending September 11 totaled 29.2 million bushels of corn, 5.8 million bushels of grain sorghum, 9.4 million bushels of soybeans and 20 million bushels of wheat.

·         The National Oilseed Processors Association reports that its members crushed 110.6 million bushels of soybeans in August, down from 119.6 million the previous month, but just above the 110.5 million bushels crushed in August of 2013.

·         The dollar is coming off its test of 14-month highs in a technical correction, easing pressure on the commodity sector.

·         Corn is up 2 cents after bouncing off last week’s contract lows.

·         Soybeans are up 6 on a modest bounce from last week’s sell-off.

·         Wheat is down 1 in Chicago, down 6 in KC & MN on continued weakness on increased competition.

·         October live cattle are unchanged, but most other months show modest losses as traders wait for direction. Boxed beef prices are mixed this morning.

·         Feeder cattle are 25 to 90 cents lower, but hovering near recent highs on strong cash demand.

·         Lean hog futures are mixed as prices consolidate ahead of USDA’s quarterly hogs and pigs data on September 26. Cash hogs are steady to $1 higher, while product prices are sharply higher on strong demand for loins this morning.


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


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