* Overall recent strength in the Dollar and energy prices continuing to decline are keeping the grain complexes on the defensive today.
* Corn prices are down about 3 cents, Went lower on the day after getting to resistance area and wheat moving lower on the day.
* Soybeans are currently up 7 cents. Meal complex helping to spark a bounce today.
* Chicago wheat is down 1 cent, KC Wheat is down 1 cents, and Minneapolis Wheat is down cent. Fighting some resistance areas on the charts today, limiting early upside movement.
* December Live Cattle are down 1.25, holding a good level for today despite lower feeder markets.
* November Feeder Cattle are down 2.75, gapped lower today and possibly making an island top (bearish) on charts. Also, still concerns around the announcement from WHO yesterday on red meats.
* December Hogs are down .90, making the move below long term moving averages and follow through selling from announcement from WHO yesterday. Deferred contracts not as bad, down around .20.
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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