* USDA report a private sale of 120,000 mt (4.4 million bushels) of Soybeans sold to China for the 15/16 marketing year.
* Export shipments for the week ending October 23 totaled 16.3 million bushels of corn (soft), 8.1 million bushels of grain sorghum (soft), 98.2 million bushels of soybeans (huge) and 11.7 million bushels of wheat (poor).
* Cash sources are reporting that cash soybean basis in Decatur, IL is up a nickel to +.15. Carry continues to come out of the spreads and beans in particular have moved to an inverted market. November up 3 cents over January.
* Corn prices are up 4 cents, caught between beans being down but more strength in wheat helping.
* Soybeans are currently down 8 in November and down 12 in January.
* Chicago wheat is up 16 cents, KC Wheat is up 16 cents, and Minneapolis Wheat is up 12. Rain in Texas and the delta states from the strongest hurricane on record have big concerns over washed out winter wheat acres. Small weather risk change for the Black Sea region also helping support.
* December Live Cattle are down 1.70, WHO research group saying they have some limited evidence that red meat is possibly carcinogenic and may cause some cancers.
* November Feeder Cattle are down 1.30 recovering off of lower prices and holding good levels despite WHO announcements.
* December Hogs are up .80, getting support from the 100 day moving average despite WHO research group reporting that they have enough evidence to classify processed meat as carcinogenic and causing bowel cancer.
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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