Home Market Market Watch Midday Update

Midday Update


Midday Update

· The USDA daily reporting system showed a private sale of 132,000 mt (4.9 million bushels) of Soybeans sold to China for the 15/16 marketing year.
· For the first time since 1996 when “mad cow” disease was discovered in the European Union, the EU is now ready to resume beef exports to Canada. Nineteen EU members have been cleared out of the 27 member group.
· Ukraine Ag Minister said the drought this fall could push winter wheat plantings down to as low as 5.5 mln hectares off -700,000 ha from initial forecasts and that yields could also suffer.
· Corn is currently up 1-2 cents, harvest pressure continues ahead of the forecasted rains.
· Soybeans are up 1-2 cents, higher early with another soybean sale to China.
· Chicago wheat is unchanged, Kansas City Wheat is down ½ cent, Minneapolis is up 1, KC and Minneapolis trying to hold support. Markets are keeping an eye on world weather for rain relief in the dry areas of Australia, Ukraine and the US plains.
· December cattle are up 1.00 and leading the way, seemed to pick up a little steam with strong breakaway yesterday and grains coming off the highs of the day. Deferred contracts are up about .20 to .30.
· October feeders are down 1.10, working their way down and trying to fill the gap left on the charts from yesterday
· December Lean Hogs are up 2.75, found the support area needed yesterday and following through today while making a new high since mid-June.

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@01D10B24.5BB9DA90] [cid:image003.png@01D10B24.5BB9DA90] [cid:image004.png@01D10B24.5BB9DA90]

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.

Indiana Farm Expo