Home Market Market Watch Midday Update

Midday Update


Midday Update

* USDA report a private sale of 238,000 mt (8.7 million bushels) of Soybeans sold to China for the 15/16 marketing year.

* Export shipments for the week ending October 16 totaled 18.1 million bushels of corn (soft), 7.9 million bushels of grain sorghum (soft), 86.9 million bushels of soybeans (huge) and 7.5 million bushels of wheat (poor).
* Greek lawmakers approved a reform package that would unlock the next tranche of a nearly $100 billion bail-out package from EU.
* Corn prices are down about 2 cents as rapid harvest pace continues and working through hedge pressure have things down. Shipments were also disappointing for last week.
* Soybeans are currently down 2 cents. Currently holding support on the charts, very strong export shipments and meal positive have gotten beans into positive territory albeit briefly. Follow through selling at the end of last week and other grain markets keeping things slightly negative so far for the day.
* Chicago wheat is down 5 cents, KC Wheat is down 8 cents, and Minneapolis Wheat is down 5. Shipments were disappointing and the market looking at relief rains for the plains and Australia leading things lower.
* December Live Cattle have broken out, up 2.40 after trading mostly sideways last week. Deferred contracts are up 1.50 to 1.10. Cut-Out values were 1.44 higher for Choice and .85 higher for Select.
* November Feeder Cattle have also broken out, up 2.80. Follow through action from a very strong Friday and stronger Fat Cattle helping the cause.
* December Hogs are up .80, getting support from the 100 day and 200 day moving averages.

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.

[cid:image002.png@01D10A54.2985F2F0] [cid:image003.png@01D10A54.2985F2F0] [cid:image004.png@01D10A54.2985F2F0]

Questions or comments? Contact us at 1-866-249-2528 or waterstreet@waterstreet.orgwaterstreet@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.

Previous articleMorning Outlook
Next articleClosing Comments