Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday corn is -3, soybeans +2, Chicago wheat -2, KC wheat +3, Minneapolis wheat +2, Dec cattle -.700, Dec hogs -.550.
* October non-farm payroll came in +271,000. Expected +142,000. Unemployment dipped to 5%. Convincing the market that a rate hike is coming in Dec. Dollar higher, Bonds lower.
* Goldman roll starts today. Dec to March over the next five sessions.
* Argentine candidate Macri issued a statement to farmers urging them to plant corn – suggesting he believes he will be President by harvest and would move to eliminate corn export taxes.
* USDA along with the Iowa Department of Agriculture announced today the lifting of quarantines from 72 commercial poultry farms around the state that had been previously infected with a highly pathogenic bird flu, the move allows the farms to begin restocking efforts.

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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