Home Market Market Watch Midday Update

Midday Update


Midday Update

* At midday corn is +2, soybeans +11, Chicago wheat +2, KC wheat +2, Minneapolis wheat +6, Dec cattle +.500, Jan feeder cattle +.550, Dec hogs +.900.
* EIA ethanol data showed an increase in production of 33,000 bbl to 1,000,000 bbl/day. EIA Ethanol stocks also grew to 19.6 mln bbl, up .4 mln from last week.
* USDA reported a soybean sale of 190,000 mt to unknown destination for 15/16 MY.
* Russian foreign secretary suggested they would not retaliate against Turkish business transactions, although market talk is circulating among the trade that Russia’s customs agency has informally suspended wheat exports to Turkey according to DOW Jones.

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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