Home Market Market Watch Midday Update

Midday Update



Midday Update

·         Export sales for the week ending March 12 totaled 19.8 million old- & 2.6 million new-crop bushels of corn, 7.2 million old- & 6.5 million new-crop bushels of grain sorghum, 12.6 million old- & 0.2 million new-crop bushels of soybeans and 14.4 million old- & 5.2 million new-crop bushels of wheat. All were near expectations, but unimpressive.

·         This week’s drought monitor showed expansion of drought conditions in Minnesota and Nebraska.

·         The dollar traded more than 800 points higher this morning, although it is off those highs a bit now, and has nearly returned to levels seen prior to the Fed statement release on Wednesday after trading roughly a 3,000 point spread Wednesday and 2,000 point spread overnight.

·         Money flow is modestly moving out of the broader commodity sector.

·         Corn futures are 2 cents weaker on the above.

·         Soybean futures are down 7 cents, while soymeal is down $2.20 per ton.

·         Wheat futures are down 3 to 4 cents.

·         Live cattle futures are $1.15 to $1.20 higher on follow-through chart buying amid expectations of firmer cash prices this week. Boxed beef prices are modestly higher on a solid 99 loads at mid-morning.

·         Feeder cattle futures are down 30 cents for the lead March contract, but $1.20 to $1.95 higher in the deferred contracts.

·         Lean hog futures are $1.80 to $2.30 lower after gapping lower early today on fears of cheaper competing meats.


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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