Happy Veteran’s Day!!
* At midday corn is +3, soybeans +1, Chicago wheat +2, KC wheat +2, Minneapolis wheat +2, Dec cattle -3.000, Dec hogs +2.000.
* Argentine presidential candidate Marci said if he wins, Argentine grain production could rise by 30% by 2019, adding he would scrap the 20 to 23% export tax on Corn and Wheat as well as lower the 35% export tax on Soybeans would be cut 5% 2016 and another 5% per year during his presidency.
* Various Korean corn buyers announced tenders overnight with 370k tons of business being sought for late winter and early spring delivery periods. Drop in corn prices starting to make the U.S. a lot more competitive in the export business.
* A strike by independent truckers waned in Brazil on Wednesday after the government increased fines for blocking roads, with federally operated highways blocked in only four points, down from some 20 on Tuesday, federal highway police said.
* Volume during Tuesday’s session of roughly 146,000 trades was nearly record-high, CME Group data showed on Wednesday.
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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