Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday has corn +3, soybeans +3, Chicago wheat +4, KC wheat +2, Minneapolis wheat +.3, Dec cattle -1.000, Dec hogs -.225.
* John Deere buys hardware component of precision planting from Monsanto.
* Informa estimates 2015 corn yields at 170.1 BPA, and 2015 soybean yields at 47.9 BPA.
* CEO of ADM today suggested they see 30% of the US corn has been sold by US farmers off from the more typical 45% sold. He also mentioned that US soybean sales are around 35% below the 60% typical for this point in the year.
* The White House has begun the final review of proposed ethanol-level rules under the federal renewable fuels mandate. The Office of Management and Budget reported yesterday that it has received the final Renewable Fuel Standard (RFS) from the Environmental Protection Agency (EPA), the last step before finalizing the ethanol requirements.

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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