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Midday Update

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Midday Update

* At midday, corn is +6, soybeans +9, Chicago wheat unchanged, KC wheat +10, Minneapolis wheat +10, Dec cattle -1.00, Jan feeders -2.25, and Dec hogs -.32.

* USDA weekly export inspections were corn 11.7 mil bu (very weak), beans 67.4 mil bu (strong), and wheat 10.1 mil bu (weak).

* These numbers leave us at nearly 7% behind last year’s bean shipment pace, 16% behind on wheat export pace, and 26% behind on corn shipments.

* The U.S. EPA is expected to release updated RFS mandate details today, but have not yet announced the timing of the announcement.

* The dollar continues to test the top it set in March of this year at 100.38, with today’s high trade of 100.36.

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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