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Midday Update



Midday Update

·         The dollar continues to post modest gains as the Federal Reserve Open Market Committee begins meetings to discuss when it may want to begin interest rate hikes for the first time in nearly 10 years.

·         Yet, money is generally flowing into the broader commodity complex this morning.

·         USDA’s daily export reporting service today confirmed the sale of 3.9 million bushels of U.S. old-crop corn to “unknown destinations” over the past 24 hours.

·         German Chancellor Angela Merkel says she wants a Greek deal by Thursday. This comes after the European Commission Chair said he wanted a deal before the markets opened yesterday.

·         Corn futures are 2 to 3 cents higher on a technical bounce this morning, garnering strength from soybeans.

·         Soybeans are 11 to 13 cents higher on bottom-picker buying following a good close Monday followed by USDA’s emphasis on 11 million unplanted acres and declining crop ratings.

·         Wheat futures are mixed after trading both sides of unchanged.

·         Live cattle are up 10 to 45 cents in follow-through buying.

·         Feeder cattle are feeding on that strength, up 25 to 70 cents.

·         Lean hog futures are modestly mixed, with strength in the nearby contracts and weakness in the deferred contracts. Product prices are firmer on strong demand for ribs.


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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