Home Market Market Watch Midday Update

Midday Update



Midday Update

·         USDA Grain Inspections have been delayed this morning due to technical difficulties and no timetable on when they will be released.

·         Cold wet weather this morning, but the main event occurs tonight that could get into the plains area potentially affecting wheat quality.  Temperatures getting down to the high 20’s for the Dakota’s.

·         World Trade Organization ruled against US in meat labeling and will require the US to adhere to worldwide trade laws or risk retaliation from the likes of Mexico and Canada.  The Canadian Ag Minister has reportedly already asked the WTO to allow it to use retaliatory measure. 

·         Corn futures are 4 cents higher on short-covering, aided by strength in wheat prices.  Maybe some concern to emerged corn where temperatures will be below freezing tonight also.

·         Soybean futures are unchanged being helped by wheat strength also.

·         Wheat futures are up 13 cent in Chicago, up 15 cents in KC and up 13 cents in MN as speculative hedge fund managers exit on their large short positions because of the weather concerns and profit taking.

·         Live cattle futures are down $.50 to $1.20 follow through selling from last week and getting back to some moving averages.

·         Feeder cattle are $1.20 to $1.75 lower on weakness in fat cattle.

·         Lean hog futures are $1.20 to .10 lower due to some profit taking and overdue for a break.


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




Aaron Hodge | Market Associate
WATER STREET ADVISORY® | www.waterstreet.org
(309) 680-1200 | ahodge@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.