Home Market Market Watch Midday Update

Midday Update


Midday Update

* 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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Aaron Hodge | Market Associate
WATER STREET ADVISORY(r) | www.waterstreet.org
(309) 680-1200 | ahodge@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.

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