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Midday Update

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Midday Update

·         Wire service reports indicate that the Obama administration has reached a framework agreement with Iran on a nuclear deal.

·         The dollar is trading nearly 600 points lower after Greece offered a compromise proposal, even though the two sides are far apart.

·         The grain and oilseed markets will be closed Friday for Good Friday, providing a three-day holiday weekend for traders. As such, some are squaring positions to reduce risk exposure.

·         Informa reportedly told its clients to expect Brazilian soybean production at 93 million metric tons, with corn at 74.7 mmt. Argentine soybeans were at 57.5 mmt.

·         Corn futures are up 3 cents on follow-through short-covering.

·         Soybeans are down 4 cents on poor export demand, with soymeal down $3.70 per ton.

·         Wheat futures are up 11 cents in Chicago and KC, while up 6 in MN on renewed crop concerns ahead of Monday’s USDA crop ratings.

·         Live cattle futures are up 80 to 90 cents anticipating higher cash trade later today.

·         Feeder cattle are up $0.80 to $1.55 on firm cash trade.

·         Lean hog futures are mixed to lower.

 

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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