* At midday corn is unchanged, soybeans unchanged, Chicago wheat +5, KC wheat +3, Minneapolis wheat +5, Dec cattle -.500, Jan feeder cattle -.500, Dec hogs +1.000.
* Today’s USDA export sales numbers showed corn 30.7mln bu, soybeans at 66.1mln bu, and wheat at 26.5mln bu. All export numbers beat expectations, especially in soybeans and wheat. Soybeans are down a little from some of the bigger weeks we have seen but still very strong overall. Corn and wheat are getting better since we have become more competitive.
* The number of Americans filing for unemployment benefits fell last week, indicating a fairly robust labor market. Initial claims for state unemployment benefits slipped 5,000 to a seasonally adjusted 271,000 for the week ended Nov. 14, the Labor Department said on Thursday. The prior week’s claims were unrevised.
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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