Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday corn is -2, soybeans -8, Chicago wheat -4, KC wheat -5, Minneapolis wheat -1, Dec cattle +3.000, Jan feeder cattle +3.650, Dec hogs +1.000.
* The weekly EIA Ethanol report for this carried a little negative weight this morning. Production was reduced by 7,000 bbl to 975,000 bbl/day. Ethanol stocks grew by 0.4 at 19.2 million bbl.
* A top Ethiopia government official cited by Reuters suggested that the country might have to issue another wheat tender because of food shortages. Recently they completed an almost 1.0 mln mt purchase (36.7 million bushels). Also, additional purchases may be needed to help keep their domestic market prices in check.
* Cattle on feed report estimates are expected to be unchanged from previous report except on marketings in October, down 2%.

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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