Home Market Market Watch Midday Update

Midday Update



Midday Update

·         Corn up 3, Soybeans up 10-12 Wheat complex up 4-10, December Soybean Meal is the feature; up 6.7 filling the gap from 7/27.

·         Informa released their production estimate: Corn at 165.4 bu with production of 13.41 bil bu., Soybean yield at 45.4 bu and production of 3.789 bil bu.

·         Production concerns and growing reports of Sudden Death Syndrome supportive of soybeans.

·         Bloomberg reports corn in France is in the worst condition since 2003. Dry conditions are expected to drop 28 EU countries production 19 percent to 62.8 million metric tons.

·         Slight dry risk for Midwest corn and soy and Canadian canola continues while hot and dry continues to press on the South.

·         CIF new crop corn bids are weaker today on expectation of upcoming southern corn harvest and slow Gulf demand.

·         Crude -.55, Dollar +.176, Gold -7.1, Dow +66.

·         Meat complex mostly lower. October contracts have Live cattle down 0.175, Feeders down 0.600, and Hogs down 1.250.


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


Previous articleMorning Outlook
Next articleClosing Comments