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Midday Update



Midday Update

·         Greece arrived at today’s emergency summit in Brussels without a proposal, adding to selling pressure in the broader outside markets. That keeps pressure on the euro and supports strength in the dollar.

·         Sources within China indicate that at least 15 commodities there hit limit-down moves in their Tuesday session as speculative funds tried to limit losses, even as the rout continued in China’s stock market, where its major index has lost 30% in the past several weeks. That too makes the dollar a safe-haven.

·         Heavy selling in the major commodity indices here in the United States continues to amplify losses in the grain and oilseed markets, which probably would have been weaker on better-than-expected crop ratings, but this outside money flow dynamic increases the losses, tripping chart-related sell stops along the way to accelerate losses.

·         Corn futures are down 6 cents on the above factors.

·         Soybean futures are down 23 to 24 cents on the above factors.

·         Chicago wheat is down 8 cents, but well off its lows as bargain hunters return on weather concerns in Europe and Canada. KC wheat is down 4 cents and MN wheat is down 6 cents.

·         Live cattle futures are down 30 to 45 cents on follow-through selling on declining beef demand.

·         Feeder cattle are 10 to 50 cents weaker on weakness in the fats.

·         Lean hog futures are 30 to 65 cents higher in the nearby contracts and modestly weaker in the deferred in consolidation.


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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