Home Market Market Watch Midday Update

Midday Update



Midday Update

·         USDA’s daily export reporting system today indicated that “unknown destinations” bought another 5.2 million bushels of U.S. old-crop corn.

·         Export shipments in the week ending March 26 totaled 30 million bushels of corn, 6.8 million bushels of grain sorghum, 24.1 million bushels of soybeans and 11.8 million bushels of wheat (poor).

·         Shipments to China in the week ending March 26 included 13.3 million bushels of soybeans and all 6.8 million bushels of grain sorghum.

·         Today’s Midwest cash hog markets are mostly steady.

·         Active short-covering is going on in the wheat market after Friday’s CFTC report showed speculative hedge funds holding large short positions at a time when the Plains is dry and getting drier.

·         Corn futures are up 2 cents in pre-report positioning.

·         Soybean futures are up 6 cents in pre-report positioning.

·         Wheat is up 19 cents in Chicago, up 21 cents in KC and up 14 cents in MN.

·         Live cattle futures are 70 to 75 cents weaker after failing to sustain a move to new highs early today.

·         Feeder cattle futures are down $1.25 to $1.60 in profit taking after the lead April contract failed to take out last week’s high.

·         Lean hog futures are down 45 to 75 cents in the nearby contracts and generally steady to $1.15 higher in the deferred contracts following Friday’s USDA quarterly hogs and pigs report.


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.




or 1-866-249-2528




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.

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.