Home Market Market Watch Midday Update

Midday Update


Midday Update

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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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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