* At midday has corn +4, soybeans -1, wheat +10, Dec cattle -0.925, Dec hogs -1.150.
* Corn export sales of 27.9 million bushels came in at the top end of expectations and 34% ahead of the previous four week average but still only at 65% of the sales at this time last year.
* Chinese importers temporarily stopped purchasing DDGs on worries the government may launch an anti-dumping investigation.
* Talk in the trade of an additional three cargos to come from Brazil to North Carolina in the next six months – highlighting the impact of currency exchange and ocean shipping rates on global corn competitiveness.
* Soybean export sales came in above the top expectation at 82.3 million bushels with wheat at the upper end of expectations with 21.7 million bushels.
* Ethanol futures continue to trade at a premium to unleaded, suggesting ongoing export business providing support to ethanol.
* The International Grains Council on Thursday trimmed its forecast for world wheat production by 1 million tons to 726 million tons. The council raised world corn production for 15/16 by 3 million tons to 970 million tons.
* As of 10/27, the 2-Day Lean Hog Index was down 0.54 from the previous day at 72.75.
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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